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SPX Gestão de Recursos
SPX Gestão de Recursos is a asset manager based in Rio de Janeiro, founded 2010; the Altss profile covers its classification, headquarters, registration, AUM...
SPX Gestão de Recursos
SPX GESTÃO DE RECURSOS LTDA. is a SEC-registered investment adviser in RIO DE JANEIRO, registered since 2022. It is based in Brazil.
General information
Firm type
Asset Manager
Year founded
2010
Location
Region
Latin America
Country
Brazil
City
Rio de Janeiro
Corporate office
Rio de Janeiro, Brazil
Principals
Rogério Xavier
Co-Founder and Chief Investment Officer
Sector focus
Frequently asked questions
Who runs investment decisions at SPX Capital?
Rogério Xavier co-founded the firm and serves as Chief Investment Officer. He oversees the macroeconomic research framework that underpins all strategies, while individual portfolio managers run separate books within risk limits. Xavier built his career at Banco Pactual's asset management arm before founding SPX in 2010.
What investment strategies does SPX manage?
SPX runs four distinct strategy groups. The global macro book trades liquid instruments across developed and emerging markets. A long-biased equity strategy focuses on Brazilian public companies. The private credit arm originates loans to mid-sized Brazilian corporates. A real assets division, launched in 2019, invests directly in energy transition infrastructure including small hydro, solar, and transmission projects.
Does SPX invest in private companies or only liquid markets?
SPX participates in both. The firm originates private credit directly and co-invests in energy infrastructure through separately capitalized vehicles. It does not run a traditional venture capital or private equity fund, but its real asset platform takes direct equity stakes in operating projects.
Is SPX Capital a single family office?
No. SPX is an independent asset manager founded by professional investors from Banco Pactual. It operates as a partnership managing external institutional and private client capital. The firm is not a family office and has no known family wealth origin.
How is SPX Capital structured compared to traditional Brazilian asset managers?
SPX is structured as an independent partnership rather than a bank-owned platform — a significant departure in Brazil, where most large managers historically operated within Itaú, Bradesco, or BTG Pactual's ecosystems. This independent model aligns compensation directly with investment performance.
Does SPX Capital maintain any special purpose vehicles or subsidiaries?
Yes. The firm uses SPVs for its private credit and energy infrastructure investments, and it has incubated at least one energy trading platform that operates as a separate entity. These structures are typical for direct investing outside the liquid macro book.
What recent corporate developments are relevant for allocators evaluating SPX?
In April 2024, Brazilian press reported that SPX was considering selling a minority stake to a global strategic investor. If completed, such a transaction would signal institutionalization of governance and potentially provide permanent capital for the firm's real asset and credit strategies.
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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