Historical series Itaú’s program to develop independent managers will launch in alternative assets
Falconi Capital, chosen by the bank’s Fund of Funds area, will be advised by Itaú Asset and may receive a capital contribution in an investment fund.
October 27, 2022 – The Rising Stars initiative from Itaú Unibanco’s asset management area, which seeks to promote the development of independent asset managers in Brazil and allow investors to participate in this growth journey, will also start to operate in the alternative assets segment. The debut in this new market will be through an investment to be made in Falconi Capital, a manager focused on private equity created by the Falconi Group, which has among its companies one of the largest business management consultancies in Brazil.
The deal, which is still subject to the closing and signing of definitive documents, will allow the emergence of a player with unique characteristics in the market, combining Falconi’s management DNA with Itaú’s expertise in asset management. The fund manager was chosen by Itaú’s Fund of Funds (FoF) department and will be supported in its development by Itaú Asset Management. Itaú’s investment in the illiquid assets manager Falconi Capital will involve raising additional funds for the Rising Stars program of professional investors and the structuring of a new investment fund dedicated to this new partnership. In addition, it will provide stable and long-term availability of resources for Falconi Capital, also enabling the expansion of talent attraction and retention capabilities.
“The market for alternatives is very broad, with consistent returns worldwide, and we see ample room for development and consolidation of this segment in Brazil,” says Carlos Constantini, responsible for the Wealth Management and Services area at Itaú Unibanco. “Falconi Capital brings to the universe of alternative investments a deep knowledge of management and competence in generating results, which makes us believe in the generation of value through the operational improvement of invested companies,” says Constantini. Álvaro Guzella, CEO of Falconi Capital, explains, “Our goal is to identify exceptional entrepreneurs who lead companies with high growth potential in the middle market, in order to amplify the generation of results from a robust management system. Having Itaú as a strategic partner, the management company gains strength to use all its knowledge in management, governance and innovation to leverage the companies that are the focus of its investments.”
Launched in 2021, Rising Stars is an unprecedented initiative in Brazil, which brings together on one side the financial means for the development of independent assets, and on the other the opportunity for clients to invest and participate in the results of these companies.