Eliana Pentagna

SPX Gestão de Recursos Ltda. (SPX Capital) is an independent Brazilian fund management firm which was founded in 2010 by Bruno Pandolfi, Rogério Xavier and Daniel Schneider. Headquartered in Rio de Janeiro, SPX Capital offers discretionary macro and fundamental equity strategies for individual and institutional investors.

Itaú Corretora de Valores SA is a brokerage company based in São Paulo, Brazil. Part of Itaú Unibanco Holding SA, Itaú Corretora de Valores SA provides brokerage services. The Brazilian company was founded in 1965 and Leonard Bruno Linnet has been the CEO of the company since 2021.

XP Gestão de Recursos Ltda. (XP) is the asset management subsidiary of XP Holding Investimentos SA, ultimately held by XP, Inc. (NASDAQ: XP) in Brazil. The firm was founded in 2006 by Guilherme Benchimol. Headquartered in Rio de Janeiro, XP manages a range of funds for individuals, financial institutions, businesses, family offices and institutional investors.

Banco BBM SA operates as a financial institution. It offers credit facilities to corporate clients and financial advisory services for wealth management of individuals in Brazil. The firm provides structured financial solutions, such as exclusive funds, investment funds; fixed income products, including government bonds and private securities, foreign exchange transactions, loans, structured notes, and derivatives and macroeconomic analysis. The company was founded in 1858 and is headquartered in Rio de Janeiro, Brazil.

GAP Gestora de Recursos Ltda. (Gap Asset) is the Brazilian asset management subsidiary of GAH Participacoes Ltda., ultimately held by Prudential Financial Inc. (NYSE: PRU) in the US. The firm was founded in 1996 by Renato Junqueira B. Ribeiro, Emanuel Pereira da Silva and Carlos Camacho. Headquartered in Rio de Janeiro, Gap Asset manages the GAP range of funds including multimarket, equities, fund of funds, private pension plans and hedge funds.

Plural Investimentos Gestão de Recursos Ltda. (Plural) is the investment management subsidiary of Plural SA Banco Multiplo, ultimately held by Holding Plural SA in Brazil. The firm was founded in 2008 as GF Gestão de Recursos S/A. Headquartered in Sao Paulo, Plural manages fixed income, variable income, private credit and real clients.

Bram Bradesco Asset Management S/A DTVM (BRAM) is an asset management firm headquartered in Sao Paulo, Brazil. The firm was founded in 2000 as a result of the consolidation of Bradesco Templeton Asset Management, BCN Alliance Asset Management, Boavista, BANEB, Credireal and Banco Bradesco´s Fund Management and Investment Portfolio departments. They are a subsidiary of Banco Bradesco BBI SA, which is owned by Banco Bradesco SA (BVMF: BBDC4, NYSE: BBD). The firm manages local funds that invest globally for Brazilian investors and, on the other hand, it manages management of Latin American funds for foreign investors. BRAM is a signatory to the UN Principles for Responsible Investment (UNPRI).

Gavea Investimentos Ltda. (GIL) is an independent investment management firm headquartered in Rio de Janeiro and was founded in 2003. Formerly known as 3F Administracao De Recursos Ltda., the firm was founded in 2003 by Arminio Fraga and Luiz Henrique Fraga. In 2010, Gavea became a subsidiary of JPMorgan Asset Management, the asset management arm of J.P Morgan Chase & Co. and created a strategic alliance with Highbridge Capital Management, the global alternative asset manager owned by JPMorgan Asset Management. GIL’s activities are focused on hedge funds, private equity funds, equity funds and real estate funds.

Santander CCVM SA is a brokerage firm headquartered in Sao Paulo, Brazil. The firm was founded in 1982 and is a subsidiary of Banco Santander (Brasil) SA (BVMF: SANB3; NYSE: BSBR). Santander provides brokerage services to their clients.

Agora Gestão de Recursos Ltda. (AGR) is the fund management subsidiary of Kirton Bank SA, itself a subsidiary of Banco Bradesco SA (BVMF: BBDC4, ADR: BBDO) in Brazil. The firm was founded in 2004 as Kirton Gestão de Recursos Ltda. They changed their name to HSBC Gestão de Recursos Ltda. in 2016 and Agora Gestão de Recursos Ltda. in 2019. Headquartered in São Paul, AGR manages mutual funds for individual and institutional clients.

Axio Investimentos Gestão de Recursos Ltda. is a private company based in Rio de Janeiro, Brazil. The Brazilian company provides investment management services.

Part of Novus Capital (Brazil), Novus Capital Gestora de Recursos Ltda is an independent resource manager based in Rio de Janeiro, Brazil. The company brings together a team of multidisciplinary and complementary professionals with extensive experience and successful careers in the Brazilian financial market. The company's team is highly qualified and focused on the generation of alpha in different markets. on September 05, 2018. Novus Capital was founded in 2012 by Rodrigo Galindo, Felipe Novaes Garcia, Luis André de Queiroz Oliveira, and Rodrigo Galindo has been the CEO since then. Novus Capital Gestora de Recursos was acquired by Modal Asset Management Ltda.

Part of Mauá Capital SA, Mauá Investimentos Ltda. The company is based in São Paulo, Brazil. is a Brazilian company that provides investment advice. The company was founded in 2005 by João Cesar Tourinho, William Ismael Rozenbaum Trosman, Luiz Fernando Figueiredo.

Part of Banco BTG Pactual SA, BTG Pactual CTVM SA is a Brazilian company that develops digital banking mobile application software. The company is based in São Paulo, Brazil. The company was founded in 1973. Rodrigo Goes has been the CEO of the company since 2009.

Athena Capital Gestão de Recursos Ltda. is a resource management company based in Rio de Janeiro, Brazil. and has subsidiaries in Brazil. Athena Capital was born from the desire of its partners, who are professionals with prominent passages by some of the main resource management houses in the country. The Brazilian company's main focus is on resource management. The private company was founded in 2013 by André Vainer and Carlos Lima.

Part of Itaú Unibanco Holding SA, Itaú Unibanco Asset Management Ltda. is a financial services company based in São Paulo, Brazil. Itaú Unibanco Asset Management Ltda. provides various financial services, as described in their website. The Brazilian company was founded in 2021 and Carlos Augusto Salamonde has been the CEO of the company since 2021.

Fundação Petrobras de Seguridade Social (Petros) is the pension fund management subsidiary of Petroleo Brasileiro SA (SP: PETR3) in Brazil. Established in 1969, the firm manages the Petros Plan of the Petrobras System and the Petros-2 Plan for retirees and pensioners. They also manage pension plans offered by various companies, entities and class associations. They are a socially responsible investor and signatory of the U.N. Principles for Responsible Investment which includes environmental, social and governance issues in their investment analysis and decision-making processes.

Part of Absolute Holding Ltda., Absolute Gestão de Investimentos Ltda. is a Brazilian independent resource manager based in São Paulo. Absolute's disciplined culture is reflected in its principles and processes, which prioritize respect for people, time, and clear communication. The Brazilian company has grown its assets under management consistently over time, with a team of professionals who share a significant intercession in macroeconomic and market analysis and management philosophy. Absolute offers several investment strategies, including disciplined macro, shares, arbitrage, and credit. The company provides regulatory documents in compliance with regulatory requirements and maintains transparency in its actions. The company was founded in 2013, and Tiago Sant'Anna has been the CEO since then.

ASA Asset Gestão em Investimentos Ltda. (ASA Investments) is an asset management firm headquartered in Sao Paulo, Brazil. The firm was founded in 2018 and is a subsidiary of Asa 1 Holding Nao Financeira Ltda., which is owned by Alberto J. Safra Holding Ltda. ASA Investments develops investment products for various types of clients.

Itaú Unibanco SA is the asset management subsidiary of Itaú Unibanco Holding SA (BVMF: ITUB4; NYSE: ITUB) in Brazil. The firm was created as Banco Itaú SA when Unibanco and Itaú merged. Headquartered in Sao Paulo, Itaú Unibanco provides a full line of banking services to individual, institutional and corporate clients.

Part of Bahia Holding SA, Bahia AM Renda Fixa Ltda. The company is based in Rio de Janeiro, Brazil. provides investment advice. The Brazilian company was founded in 2011. Thiago Mendez has been the CEO of the company since 2011.

Part of Aegon NV, Mongeral Aegon Investimentos Ltda. The company is based in Rio de Janeiro, Brazil. is a Brazilian company that provides investment advice. The company was founded in 2012. Helder Molina has been the CEO of the company since 2012.

Kapitalo Investimentos Ltda. (Kapitalo) is an independent investment management firm headquartered in Sao Paulo, Brazil. The firm was founded by Carlos Woelz and João Carlos Pinho in 2009. Kapitalo manages funds for individual and institutional investors.

Vista Capital Gestora de Recursos Ltda. is an investment management company based in Rio de Janeiro, Brazil. Vista Capital offers various investment strategies, including long biased view, macro research, and multi-strategy view, in Brazilian and international markets. The Brazilian company has grown from managing $30 million to over $6 billion in assets under management, thanks to consistent performance, strict risk controls, and a focus on retaining the best human capital. Vista Capital does not sell or distribute quotas of investment funds or any other financial assets, and past profitability does not guarantee future profitability. The private company was founded in 2014 by João Landau, Luis Felipe Aleixo Lutosa Clark Magon, João Eduardo Lopes, and has Luiz Guilherme Gama as the CEO since 2015.

BTG Pactual Asset Management S/A DTVM (BTG Pactual-AM) is the investment management subsidiary of Banco BTG Pactual SA (BVMF: BPAC11) in Brazil. Headquartered in Rio de Janeiro, BTG Pactual-AM was founded in 2010 and provides asset management services to clients, including institutional clients, high-net worth individuals, corporations and distribution partners in Brazil and across Latin America.

Part of Icatu Holding SA, Icatu Seguros SA is a life insurance, social security, and capitalization company based in Rio de Janeiro, Brazil. Icatu Seguros offers solutions to protect families and financial futures through life insurance, private pension funds, and capitalization titles. The Brazilian company manages over $52 billion in investment funds and is recognized for its excellence in management both in Brazil and abroad. Icatu Seguros also offers tailor-made experiences and services for partnerships. The company was founded in 1973 by Carlos Alberto de Figueiredo Trindade Filho, and the CEO is Luciano Snel Corrêa.

J. Safra Asset Management Ltda. (Safra AM) is an asset management firm headquartered in Sao Paulo, Brazil. The firm was founded in 1968 and is a subsidiary of Sercom Trade Services Ltda., ultimately held by Grupo Safra SA in Brazil. Founded in 1968, Safra AM manages assets for individual and institutional clients.

H.I.G. Capital LLC (H.I.G Capital) is a private equity division of H.I.G. Capital LLC founded in 1993 by Sami W Mnaymneh and Anthony A Tamer. The firm is headquartered in Miami, Florida with offices in Europe, Latin America and Middle East.

Eagle Capital Gestão de Investimentos Ltda is a Brazilian company founded in 2002 by Paulo José Possas. The private company is based in São Paulo, Brazil and has subsidiaries in Brazil. Eagle Capital is an asset management firm that provides solutions for investors who wish to plan, manage, and organize their investments.

Riza Gestora de Recursos Ltda. is an investment advisory company based in Rio de Janeiro, Brazil. and has subsidiaries in Brazil. The Brazilian company was founded in 2010 by Fabio Frajblat Gorodicht, André Grimberg. Daniel Albernaz Lemos has been the CEO of the private company since 2019.

Part of Banco Daycoval SA, Daycoval Asset Management Administração de Recursos Ltda. is a company based in São Paulo, Brazil. Daycoval Asset Management is a Brazilian investment management company that offers a range of investment funds, including fixed income, equity, and pension funds. The company's investment approach is based on a competent risk management strategy that uses alternative scenarios to evaluate performance and risk. Daycoval Asset Management provides a simple and easy way to invest in their products and services, with a team of specialists available to assist clients. The company was founded in 2004, and Morris Dayan has been the CEO of the company since 2004.

Part of Opus International Holdings Ltd., Opus Gestão de Recursos Ltda. is a Brazilian investment advisory company based in Rio de Janeiro, Brazil. Opus Gestão de Recursos Ltda. provides investment advice. The Brazilian company was founded in 2004 by Eduardo Plass, José Mario Osorio, Carlos Henrique Vieira Brandão dos Santos. José Mario Osorio has been the CEO since 2004.

Votorantim CTVM Ltda. is the brokerage subsidiary of Banco Votorantim SA, which is ultimately held by the Government of Brazil. The firm is headquartered in São Paulo and was founded in 1995. Votorantim provides brokerage services to their clients.

Part of Banco BTG Pactual SA, Fator SA Corretora de Valores is a Brazilian company that provides brokerage services. The company is based in São Paulo, Brazil. The company was founded in 1971. The CEO is Rogério Karp Macedo. Fator SA Corretora de Valores was acquired by Banco BTG Pactual SA.

Far Fator Administração de Recursos Ltda. (FAR) is the asset management subsidiary of Banco Fator SA, ultimately owned by Fator Empreendimentos e Participacoes Ltda. in Brazil.^ Established in 1997, the firm is based in Based in Sao Paulo and develops tailored products for individual and institutional clients including open and closed pension funds, the public sector and insurance companies.

Part of XP, Inc., XP Allocation Asset Management Ltda. The company is based in São Paulo, Brazil. is a Brazilian company that has a relationship with investors com Investidores. The company was founded in 2020 by Danilo Gabriel. Bruno Castro has been the CEO of the company since 2020.