Gávea Investimentos
 | |
| Industry | Financial services Asset management |
|---|---|
| Founded | August 2003 |
| Founder | Arminio Fraga Luiz Henrique Fraga |
| Headquarters | , |
Area served | Global |
Key people | Arminio Fraga (Founder and Chairman) Luiz Henrique Fraga (Founder, Co-CIO Private Equity) Gabriel Srour (CIO Hedge Funds) Amaury Bier (Co-CIO Private Equity) Edward Amadeo (Senior Economist) Bernardo Carvalho (Managing Director and CRO) |
| Products | Hedge funds Private equity Investment management |
| Total assets |  ~US$3 billion (2025) |
Number of employees | ~150 (2025) |
| Website | www |
Gávea Investimentos is a Brazilian investment management firm founded in 2003 by Arminio Fraga and Luiz Henrique Fraga. Based in Rio de Janeiro, the firm focuses on emerging markets and operates two main business areas: hedge funds and private equity. As of 2025, Gávea manages approximately US$3 billion in assets under management and has US$5.4 billion in committed capital for private equity investments.[1]
History
[edit]Foundation (2003)
[edit]Gávea Investimentos was founded in August 2003 by Arminio Fraga, former president of the Central Bank of Brazil, and Luiz Henrique Fraga.[2] The firm launched its first two investment products in August 2003.
Early growth (2003-2010)
[edit]During its first seven years, Gávea developed operations in both hedge fund strategies and private equity investments, with a focus on emerging markets. By 2010, the company was managing approximately $6 billion in hedge and private equity funds.[3]
JPMorgan acquisition (2010-2016)
[edit]In November 2010, Gávea announced the sale of a majority stake to J.P. Morgan Asset Management, the asset management arm of JPMorgan Chase.[4] The transaction created an alliance with Highbridge Capital Management, JPMorgan's alternative asset manager. The deal was valued at approximately $270 million and gave JPMorgan a 55% stake in the firm.[5]
During the JPMorgan ownership period, Gávea maintained its investment processes and leadership structure.
Return to independence (2016-present)
[edit]In 2016, Gávea's founders bought back the firm from JPMorgan, returning it to independent ownership.[6]
Business areas
[edit]Hedge funds
[edit]Gávea's hedge fund business focuses on emerging markets with a global investment approach. The firm employs macro and micro analysis strategies.[7] The hedge fund division has invested in over 25 countries.[7]
As of 2025, the firm has adjusted its investment focus in response to market volatility.[8]
Private equity
[edit]The private equity division focuses on minority investments. As of 2025, Gávea has US$5.4 billion in committed capital for private equity investments, with 57 investments and 53 divestments completed.[7]
Recent investments include participation in the acquisition of assets from Agrícola Veneto by Natural One in July 2024.[9]
Leadership
[edit]Current management
[edit]Gávea's leadership team includes:[10]
- Arminio Fraga - Founder and Chairman
- Luiz Henrique Fraga - Founder and Co-Chief Investment Officer, Private Equity
- Gabriel Srour - Chief Investment Officer, Hedge Funds
- Amaury Bier - Co-Chief Investment Officer, Private Equity
- Edward Amadeo - Senior Economist
- Bernardo Carvalho - Managing Director and Chief Risk Officer
According to Bloomberg, Amaury Bier serves as Chief Executive Officer of the firm.[11]
Corporate structure
[edit]The Gávea Group comprises multiple entities:
- Gávea Investimentos - Main investment management firm
- Gávea Equity - Equity-focused investment entity
- Gávea DTVM - Securities distribution company
These entities are regulated by the Central Bank of Brazil, the Brazilian Securities and Exchange Commission (CVM), and the Brazilian Financial and Capital Markets Association (ANBIMA).[7]
Operations
[edit]Gávea maintains offices in Rio de Janeiro and São Paulo, with approximately 150 employees as of 2025.[7] The firm's headquarters are located at 1100 Av. Ataulfo de Paiva in Rio de Janeiro.
Media coverage
[edit]In 2009, Institutional Investor magazine reported on the firm's management structure and operations.[12]
References
[edit]- ^ "About us". Gávea Investimentos. Retrieved 2025-07-20.
- ^ Luciana Magalhaes (April 17, 2015). "Brazilian Investment Firm Gávea in Talks to Buy Back Control from J.P. Morgan". The Wall Street Journal. Retrieved 2025-07-20.
- ^ "Highbridge Acquires Stake In Brazilian Manager". WealthBriefing. October 28, 2010. Retrieved 2025-07-20.
- ^ Luciana Magalhaes and Emily Glazer (July 22, 2015). "Gávea Investimentos Founders Reach Deal to Buy Back Firm From J.P. Morgan Chase". The Wall Street Journal. Retrieved 2025-07-20.
- ^ "JPMorgan buys majority stake in Brazil's Gavea". Reuters. October 27, 2010. Retrieved 2025-07-20.
- ^ "JPMorgan Finalizing Sale of Brazil's Gavea Back to Founder Fraga". LAVCA. February 19, 2016. Retrieved 2025-07-20.
- ^ a b c d e "About us". Gávea Investimentos. Retrieved 2025-07-20.
- ^ "Hedge Fund Gavea Shifts Investment Focus Due to Rising Volatility". Bloomberg. May 27, 2025. Retrieved 2025-07-20.
- ^ "Natural One acquires assets from Agrícola Veneto". Revista Cultivar. July 15, 2024. Retrieved 2025-07-20.
- ^ "Team". Gávea Investimentos. Retrieved 2025-07-20.
- ^ "Amaury Guilherme Bier, Gavea Investimentos Ltda". Bloomberg. May 27, 2025. Retrieved 2025-07-20.
- ^ "Arminio Fraga: The Intellect Behind Brazil's Gávea Investimentos". Institutional Investor. August 27, 2009. Retrieved 2025-07-20.