We invest in American and European companies like a fund manager based in the U.S. or Europe would do. Instead of looking just to globally known companies like Apple and Disney, we have been working for almost a decade on building knowledge, relationships and a large database so that we are able to deploy capital in hundreds of U.S. companies, opening the doors to potentially more rewarding investments, for example, in companies at early stages of growth.

 

On the other side, being based in Brazil we are close and open to communicate with our local clients with whom we intend to build long-lasting relationships, grounded on trust and understanding of our principles and methods.

 

We aim to own a relatively concentrated portfolio, dominated by “going somewhere” businesses, with strong moats, predictable results, and managed/controlled by leaders we trust.

 

Unlike most institutions and asset managers allocating capital in the U.S., we like firms with defined controllers, as long as they are savvy and well aligned with minority owners, a judgment we have been learning how to make from experience over decades in Brazil, and over the last decade in the U.S.

 

For deeper insights on how we operate, please read our letters, especially the first one.