You worked in law and investment banking, how did you found a private equity?
Since I started in law, at Pinheiro Neto, I have worked with private equity funds and have 20 years of experience in mergers and acquisitions. In the early 2000s, large international funds came to Brazil and the firm represented many. Participating in the purchase and sale of companies ended up being more interesting than being a lawyer and I switched sides. I did an MBA in the US and then went to work in a management company.
And how did you become interested in the topic of sustainability?
With the greatest interest in preserving the environment, I saw that there was room to do something different. I studied how this ESG market worked around the world and looked for investment alternatives. But there was still a lot of mixing of themes in this story. That’s why I focused on decarbonization, conducting an audit to measure the carbon footprint of the companies I invest in. And so, in June 2022, W Capital was born.
And what was the first deal?
We made an investment of BRL 65 million in Better Drinks, which produces ready-to-drink drinks and operates in a niche that does not compete with the beverage giants. The focus was on fulfilling requirements for reducing the carbon footprint in logistics. The success was greater than expected and we raised it in five months.
And what are the next plans?
We are already in the process of investing R$75 million in another company, and seven more transactions are in progress. But our investors are 100% institutional and in a world of greenwashing, many still consider sustainability a plus, but what counts is the return. Despite assessing the risk, however, we see that interest in ESG is growing. Europe, which deforested the most, leads the agenda. However, we have the opportunity to participate, generating income for those who preserve. We have the chance to benefit ourselves and bring Faria Lima closer to this new world.
GRADES
Octante reduces fund contribution to BRL 1 thousand
The Octante fund has just reduced the initial contribution from R$5,000 to R$1,000. Investor in bonds of large companies in Latin America, the fund has delivered over the last 13 years a return above the CDI +4% and was open only to institutional investors. With the reduction, it is now open to individual investors, with more accessible contributions. Fund manager Laszlo Lueska defends the thesis that investors can take advantage of the higher spread offered by offshore private credit.
Generali Brasil grows in life insurance
Generali Brasil ended 2022 with a 23% growth in the area of life insurance for multinationals. One of the largest groups in the world in the insurance sector, with global revenue of 1.47 billion euros a year, the company earned R$ 175 million in the country. According to the company, the results demonstrate the strengthening of the partnership with the Generali Employee Benefits (GEB) unit, whose focus is to insure the lives of employees of multinationals around the world and which opened an office in Brazil in 2021, with the aim of expanding your performance here.
Moove On debate credit market
On May 9, the “X Moove On Forum, The Future of the Credit Market” will be held at the Rebouças Convention Center, in São Paulo. Topics such as politics, economics, management, credit and startups will be on the agenda. To address these issues, the event will bring together big names in the market, who will talk about strategies, network, connections, technology and innovation. Among the speakers is confirmed the presence of the Chief Economist of Austin Rating, Alex Agostini, who carries more than 20 years of experience in this market.
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