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JiveMauá
Founded in 2011 by brothers Alexandre and Guilherme Aoude, JiveMauá began as a credit-focused investment office managing proprietary family capital.
JiveMauá
Founded in 2011 by brothers Alexandre and Guilherme Aoude, JiveMauá began as a credit-focused investment office managing proprietary family capital. The firm transitioned to a regulated asset manager in 2017, listing shares on the B3 exchange's Bovespa Mais access segment — a governance-track market for mid-cap companies — to create a permanent capital base. This structure allows the portfolio managers to take concentrated, illiquid positions without the duration mismatch that constrains traditional hedge funds. JiveMauá's mandate spans distressed credit, real estate, infrastructure equities, public equities, and early-stage venture investments. The firm allocates opportunistically rather than maintaining fixed target weights, shifting between asset classes as dislocations appear. Public records show positions in Brazilian logistics infrastructure, special situations credit to mid-market companies, and direct venture stakes in technology and agribusiness startups. The partnership structure enables co-investments alongside external managers when deal sizes exceed internal capacity, often using SPVs for real asset acquisitions. July 2024: JiveMauá completed a follow-on public offering of common shares and subscription warrants, raising capital to expand its illiquid portfolio — particularly in special situations credit and real estate assets (per the firm's regulatory filings, 2024). The firm operates from its São Paulo headquarters with an additional office in Rio de Janeiro. The listed entity maintains a lean investment team, outsourcing legal, compliance, and back-office functions to retain a pure asset-selection culture. No affiliated philanthropic or operating company vehicles have been publicly disclosed. JiveMauá's permanent-capital structure is its structural differentiator: shareholder capital behaves like an endowment pool with no redemption gates, enabling the firm to hold distressed positions through multi-year workout cycles and to own real assets indefinitely. This architecture eliminates the forced-selling risk that impairs most multi-strategy managers during liquidity shocks, positioning the firm more like a publicly traded holding company than a traditional hedge fund.
General information
Firm type
Asset Manager
Year founded
2011
AUM
Undisclosed
Location
Region
Latin America
Country
Brazil
City
São Paulo
Corporate office
São Paulo, SP, Brazil
Additional offices
Rio de Janeiro, Brazil
Principals
Alexandre Aoude
CEO and Portfolio Manager
Guilherme Aoude
CIO and Portfolio Manager
Sector focus
Frequently asked questions
Who runs investment decisions at JiveMauá?
Alexandre Aoude (CEO) and Guilherme Aoude (CIO) share portfolio management responsibilities. Both brothers co-founded the firm and continue to lead investment committee decisions, maintaining a flat organizational structure with no external investment partners or fund-of-funds layers. Key sector specialists report directly to the two principals.
How does JiveMauá's permanent-capital structure affect its investment strategy?
Because JiveMauá is a publicly traded operating company rather than a traditional fund with quarterly redemption windows, the firm can hold distressed credit positions through multi-year resolution cycles and own real assets with no artificial exit timeline. This eliminates the forced-selling risk that impairs redemption-driven peers during liquidity shocks. The tradeoff is that shareholders face mark-to-market volatility on the listed equity.
Is JiveMauá structured as a single family office or an asset manager?
JiveMauá operates as a regulated asset manager with shares listed on B3's Bovespa Mais segment, placing it outside the family-office classification despite its origin managing the Aoude family's capital. The firm takes external shareholder capital through public equity issuance and reinvests retained earnings, functioning as a permanent-capital vehicle that blurs the line between an operating company and a multi-strategy investment manager.
Does JiveMauá participate in fund commitments or only direct deals?
JiveMauá primarily executes direct investments across credit, real estate, and venture, often using SPVs for large real asset acquisitions. The firm will co-invest alongside external managers when transaction sizes exceed its balance-sheet capacity. It does not widely deploy capital into third-party fund commitments.
Which sectors does JiveMauá explicitly avoid?
Publicly available investment committee minutes and filings do not specify hard sector exclusions. The firm's distressed credit and real asset focus implies minimal exposure to unprofitable growth-stage technology or pre-revenue biotech. The observable portfolio concentrates in Brazilian logistics infrastructure, agribusiness-adjacent ventures, and middle-market special situations where tangible collateral exists.
Where does the underlying capital come from since the firm went public?
Post-listing, JiveMauá's capital base combines the Aoude family's retained equity stake with proceeds from public shareholder offerings and subscription warrant exercises. The 2024 follow-on offering diluted the founding family's economic interest while maintaining their controlling voting position, creating a hybrid governance structure that preserves long-duration decision-making authority.
How is JiveMauá related to other Aoude family businesses?
No public records indicate formal cross-ownership or shared balance sheets between JiveMauá and other Aoude family entities. The firm operates independently with its own board, audit committee, and B3 listing compliance obligations. Prior to 2017, the investment activities now housed in JiveMauá were conducted through private family-office structures.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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