Votorantim

Governance runs through three axes: the Board of Hejoassu represents the family shareholders, the Family Board conveys the family's purpose, and Votorantim S.A.'s board of directors and management teams execute strategy. The board currently includes four Ermírio de Moraes family members — André, Cláudio, and José Roberto Filho — and three independent directors including chairman Eduardo Vassimon. The family sets long-term vision and risk appetite, while CEO João H. Schmidt and seven managing directors handle day-to-day capital allocation.

Votorantim is a permanently capitalized holding company with no fixed fund life, meaning it buys and holds operating businesses indefinitely rather than cycling capital through limited-partner vehicles. This structure allows it to own assets like Votorantim Cimentos, Citrosuco, and CBA across decades and reinvest dividends across the portfolio without redemption pressure.

Key controlled assets include Votorantim Cimentos (one of the world's largest cement companies, operating in nine countries), Citrosuco (the world's largest orange juice producer), Banco Votorantim (Brazil's fifth-largest privately held bank), CBA (Brazil's only vertically integrated aluminum producer), Nexa Resources (a top-five global zinc miner), Auren Energia (renewable power formed with CPP Investments), and CCR (Brazil's largest infrastructure and mobility platform).

The wealth originates from the Ermírio de Moraes family's textile business, founded by Antônio Ermírio de Moraes in 1918 in the municipality of Votorantim, São Paulo. Over the next century, the family diversified into cement, metals, energy, finance, and agriculture, building what became one of Latin America's largest industrial conglomerates.

Yes. Votorantim partnered with CPP Investments to form Auren Energia, a renewable-energy platform. Separately, it formed 23S Capital with Singapore's Temasek to invest US$700 million in Brazilian growth equity, and has collaborated with other institutional investors on specific investment cases across its portfolio.

Votorantim is the only privately held Brazilian company to hold investment-grade ratings from Moody's (Baa3), S&P Global (BBB), and Fitch Ratings (BBB). The firm maintains this rating through a conservative capital-structure approach across its controlled companies.

Votorantim operates in 19 countries through its portfolio companies. Its headquarters are in São Paulo, Brazil, with an additional office in New York. Major operating footprints include Brazil, Peru (zinc via Nexa), Argentina (long steel via Acindar), the United States, and broad coverage across Latin America and Europe through its cement and infrastructure platforms.