As of 2023, Brazil’s asset management industry is the biggest and most advanced in Latin America, with more than R$ 7.5 trillion in assets under management. This ever-changing ecosystem includes big banks, small independent companies, global asset managers and a new generation of digital wealth platforms. It serves a wide range of clients, from retail investors to the biggest pension funds in the region.
The Brazilian asset management industry has come a long way, thanks to falling interest rates, more knowledgeable investors and new rules that have made it easier for people to invest in things like real estate funds (FIIs), agribusiness funds (Fiagros) and infrastructure funds (FI-Infra). The second edition of the Premiação Outliers InfoMoney, which is known as the “Oscar of Asset Managers” in Brazil, took place in January 2026. It honored the best asset managers in 16 categories, showing how the industry is becoming more diverse and professional.
This carefully chosen list includes five well-known asset management firms that do business in Brazil. They were chosen based on their market presence, specialized knowledge, impact on clients and contribution to the country’s financial ecosystem. This overview gives you useful information about Brazil’s top asset management firms, whether you’re an institutional investor looking for specific strategies, a high-net-worth individual looking for wealth managers, or an entrepreneur looking for partnership opportunities.
How We Selected the Top Asset Management Companies in Brazil
The firms featured in this list were evaluated based on the following general criteria:
- Assets Under Management (AUM): The size and market presence of Brazil’s financial industry
- Investment Performance: A history of providing steady, risk-adjusted returns over time, regardless of market conditions
- Product Innovation: Creating unique strategies and gaining access to different types of assets
- Regulatory Compliance and Governance: Following the rules set by the CVM (Brazilian Securities and Exchange Commission) and the best practices in the field
- Client Recognition: Awards, rankings and a good name in the Brazilian investment community, such as being recognized in the 2026 Premiação Outliers InfoMoney.
List of Top 5 Asset Management Companies in Brazil
- Itaú Asset Management
- Kinea Investimentos
- BTG Pactual Asset Management
- SPX Capital
- Bradesco Asset Management
A Closer Look at Each Asset Management Company
1. Itaú Asset Management
Itaú Unibanco, Brazil’s biggest private bank and one of the most powerful banks in Latin America, owns Itaú Asset Management. The company has been a major player in Brazil’s asset management industry for a long time, managing hundreds of billions of dollars in assets using a wide range of investment strategies.
Key Investment Areas
- Funds for fixed income and money markets (for individuals and businesses)
- Strategies for Brazilian and global stocks
- Multimercados funds that can be used in many markets
- Investment options that include ESG
- Structured products and tailored institutional mandates
Ideal Client Profile
Retail investors through Itaú’s extensive branch network, high-net-worth individuals served by Itaú Private Bank, corporate clients, pension funds and institutional investors seeking the stability and resources of a bank-owned asset manager.
Notable Strengths or Differentiators
Itaú Asset Management’s biggest strength is its unmatched brand recognition and distribution network. The company has access to millions of clients across Brazil through Itaú Unibanco, which gives it a lot of scale in managing retail funds. The company was one of the finalists for the 2026 Premiação Outliers InfoMoney’s “Melhor Gestora do Ano” (Best Asset Manager of the Year) award, along with other top companies in the field. Itaú Asset was also a finalist in the “Melhor FI-Infra” (Best Infrastructure Fund) category, which shows that it is good at making alternative investments. Its connection to Itaú’s larger banking ecosystem, which includes research, investment banking and wealth management, gives it a level of functionality that few independent managers can match.
Contact Information
Website: www.itauassetmanagement.com.br
2. Kinea Investimentos
Kinea Investimentos is one of Brazil’s most trusted independent asset managers. They are known for their deep knowledge of alternative investments and multi-strategy funds. Kinea has become a leader in Brazil’s growing alternatives market. It was a finalist in several categories at the 2026 Premiação Outliers InfoMoney, including Best Real Estate Fund (FII de Papel), Best Multi-Strategy Fund and Best Infrastructure Fund (FI-Infra).
Key Investment Areas
- Real estate funds (FIIs) spanning paper, brick and multi-strategy
- Infrastructure funds (FI-Infra) for long-term project financing
- Funds that invest in multiple markets (multimercados) and use strategies similar to hedge funds
- Strategies for stocks and credit
- Structured products for big investors
Ideal Client Profile
Institutional investors, including pension funds and insurers seeking exposure to alternative assets, high-net-worth individuals and sophisticated retail investors accessing listed funds on B3 (Brazil’s stock exchange).
Notable Strengths or Differentiators
Kinea is different from other asset managers because it focuses only on alternative investments. The company was named a finalist in several real estate and infrastructure categories at the 2026 Outliers Awards. This shows that it does well in a variety of areas of the alternatives market. Kinea was also one of the finalists for the “Melhor Gestora do Ano” (Best Manager of the Year) and “Melhor Gestora de Alternativos” (Best Alternative Asset Manager) awards. The company’s research-based approach and experienced team have earned them a reputation for making alpha in hard-to-understand asset classes. Kinea’s listed funds trade a lot on B3, giving both individual and institutional investors easy access to real estate, agribusiness and infrastructure investments that were only available through direct ownership in the past.
Contact Information
Website: www.kinea.com.br
3. BTG Pactual Asset Management
BTG Pactual is Brazil’s biggest independent investment bank and a leader in asset management, especially when it comes to alternative investments. The company’s asset management division handles a lot of money using a wide range of strategies, but it focuses on multi-market funds and real estate.
Key Investment Areas
- Multimercados are multi-market funds that use flexible, absolute-return strategies.
- Real estate funds (FIIs) in all the main areas
- Strategies for equity in Brazilian and global markets
- Credit and fixed income
- Private equity and unique situations
Ideal Client Profile
Sophisticated investors seeking exposure to alternative strategies, high-net-worth individuals, institutional investors and clients of BTG Pactual’s wealth management platform.
Notable Strengths or Differentiators
BTG Pactual has been the leader in alternative investments in Brazil for a long time, with more than half of its assets going to multi-market and real estate strategies. The company was a finalist in the “Melhor FII – Tijolo” (Best Brick-and-Mortar Real Estate Fund) category at the 2026 Outliers Awards. It also won awards in the “Melhor Gestora do Ano” and “Melhor Gestora de Alternativos” categories. BTG Pactual’s background in investment banking gives it a unique perspective on corporate deals, credit quality and special situations that help shape its asset management strategies. The company’s all-in-one platform, which includes investment banking, sales and trading, wealth management and asset management, creates synergies that help fund investors through exclusive deal flow and in-depth market knowledge.
Contact Information
Website: www.btgpactual.com
4. SPX Capital
SPX Capital is one of Brazil’s most successful independent asset management firms, renowned for its卓越 active management capabilities and strong performance track record. SPX was started by a group of experienced investment professionals and has has become a major player in the Brazilian asset management business, handling a lot of money for wealthy clients, pension funds and institutional investors.
Key Investment Areas
- Equity strategies with portfolios that are focused and have strong beliefs
- Multi-market funds that use both macro and relative value strategies
- Credit and unique situations
- Strategies for investing around the world
- Tailored solutions for institutional clients
Ideal Client Profile
Institutional investors, including pension funds seeking superior active management, high-net-worth individuals and sophisticated investors willing to commit capital to high-conviction strategies.
Notable Strengths or Differentiators
SPX Capital built its reputation on great active management, especially of stocks, which led to consistent outperformance that drew in a lot of institutional capital. The company is the best example of Brazil’s independent asset management culture: it’s flexible, fair and focused on performance, without the limits that come with bank-owned managers. Industry reports on Brazil’s best asset management firms always mention SPX along with other top independent managers. Search results did not give specific details about the 2026 award finalists, but the company’s past performance and presence in the market make it one of Brazil’s best asset management firms.
Contact Information
Website: www.spxcapital.com.br
5. Bradesco Asset Management
Banco Bradesco, Brazil’s third-largest private bank and a major player in the country’s financial landscape, owns Bradesco Asset Management (BRAM). Bram, the third largest fund manager in Brazil manages hundreds of billions of dollars in assets. assets, especially in the management of institutional and pension funds.
Key Investment Areas
- Fixed income securities (historically the main strength)
- Funds for credit and structured products
- Strategies for equity across Brazilian markets
- Funds that invest in more than one market and have increasing allocations
- Managing pensions and institutional funds
Ideal Client Profile
Institutional investors, pension funds (BRAM is the largest pension manager in Brazil), corporate clients, governments and retail investors through Bradesco’s extensive branch network.
Notable Strengths or Differentiators
Bradesco Asset Management was one of the finalists for the “Melhor Gestora do Ano” award at the 2026 Premiação Outliers InfoMoney. Other finalists were Itaú, BTG Pactual, Kinea and others. This award shows how well the company has changed under leaders who have pushed it into credit, stocks and more complex strategies. BRAM is the top manager of institutional funds and pension accounts make up 41% of the firm’s assets. This gives the firm stable, long-term capital that supports relationship-based investing. The company’s connection to Bradesco Seguros, Brazil’s top insurer and its large distribution network give it a big edge over its competitors in both the retail and institutional markets.
Contact Information
Website: www.bradescoasset.com.br
Honorable Mentions: Other Notable Asset Managers in Brazil
The Brazilian asset management ecosystem extends well beyond five firms. The 2026 Premiação Outliers Info Many finalists included numerous other respected managers that deserve recognition:
- XP Asset Management: Finalist in “Melhor Gestora do Ano,” “Melhor Gestora de Alternativos,” Best Multi-Strategy Fund and Best Agribusiness Fund (FI-Agro)
- Valora Investimentos: Finalist in “Melhor Gestora do Ano,” “Melhor Gestora de Alternativos,” Best Real Estate Fund (FII de Papel), Best Multi-Strategy Fund and Best Agribusiness Fund
- RBR Asset Management is a finalist for both the Best Real Estate Fund (FII de Papel) and the Best Brick-and-Mortar Fund (FII – Tijolo).
- Hedge Investments: One of the Best Multi-Strategy Funds
- Kilima Asset was a finalist for Best Multi-Strategy Fund.
- Patria Investimentos: Finalist for Best Brick-and-Mortar Fund (FII – Tijolo)
- Tivio Capital: Finalist for Best Brick-and-Mortar Fund (FII – Tijolo)
- Bocaina Capital: One of the Best Infrastructure Funds (FI-Infra)
- Capitânia Investimentos is a finalist for the Best Infrastructure Fund (FI-Infra) award.
- Sparta: One of the finalists for the Best Infrastructure Fund (FI-Infra)
- JiveMauá: One of the best real estate funds (FII de Papel) and “Melhor Gestora de Alternativos”
- FG/A Gestora: One of the finalists for the Best Agribusiness Fund (FI-Agro) award.
- Suno Asset: One of the Best Agribusiness Funds (FI-Agro) Finalists. Riza Asset Management is a finalist for the Best Real Estate Fund (FII de Papel) award.
- Riza Asset Management: Finalist in Best Real Estate Fund (FII de Papel)
Opportunity Gestora, AZ Investimentos, Vinci Partners, Gávea Investimentos and global giants like BlackRock and UBS that do business in Brazil are also important players in the Brazilian market. New companies like Faros Multi Family Office, which recently got permission from the CVM to act as a full asset manager with R$ 20 billion in assets under management, are making the market more competitive and giving investors more choices.
How to Choose the Right Asset Management Company in Brazil
- Define Your Investment Objectives: Clarify whether you seek exposure to traditional fixed income, Brazilian equities, alternative assets (real estate, infrastructure, agribusiness), or global strategies. Each firm profiled has distinct areas of specialization.
- Assess Firm Structure and Stability: Bank-owned managers like Itaú Asset and Bradesco Asset offer distribution scale and institutional backing, while independent firms like Kinea and SPX provide specialized expertise and performance focus. Consider which structure aligns with your preferences.
- Evaluate Track Record Across Cycles: Brazilian markets are characterized by volatility and structural shifts. Examine how potential managers have performed through different economic and political cycles, not just in recent periods. Recognition in awards like the Outliers InfoMoney, which considers performance over three-year periods, can provide useful signals.
- Look at the fee structures: Brazilian asset management fees can be very different depending on the strategy and distribution model. Independent managers usually charge performance fees based on how well they do at generating alpha. Bank-owned funds, on the other hand, may have higher distribution costs.
- Check for compliance with regulations: Make sure that any potential managers are properly registered with CVM and, if necessary, follow ANBIMA’s rules and codes. The finalists for the 2026 Outliers Awards are companies that have met strict requirements, such as having a minimum amount of assets under management (AUM) and liquidity.
- Check out Accessibility and Minimum Investments: Some companies only work with institutional clients who have high minimums, while others offer listed funds that retail investors can buy through B3. Make sure that your investment ability matches your firm’s accessibility.
- Know what taxes mean: Different types of funds in Brazil are taxed in different ways. Talk to qualified advisors to learn what investing through different vehicles means for you.
Brazil’s asset management ecosystem offers diverse options spanning bank-owned giants, independent specialists, alternative investment experts and global managers with local presence. Itaú Asset Management, Kinea Investimentos, BTG Pactual Asset Management, SPX Capital and Bradesco Asset Management are the five companies that were looked at. They all have different ways of helping Brazilian investors with different levels of risk and return.
Itaú Asset Management is a finalist for Best Asset Manager of the Year because it has the best distribution scale and banking integration. Kinea Investimentos is an expert in real estate and infrastructure alternatives and it has been a finalist in several award categories for its work in these areas. BTG Pactual Asset Management has a history in investment banking and is a leader in multi-market and real asset strategies. It was a finalist in the real estate and alternative manager categories. SPX Capital offers focused active management and independence based on performance and is often listed as one of Brazil’s best independent managers. Bradesco Asset Management is a finalist for Best Asset Manager of the Year because it brings institutional scale and pension fund knowledge to the table.
Each organization contributes uniquely to Brazil’s position as Latin America’s asset management hub—a role reinforced by regulatory sophistication, growing investor education and increasing recognition from international allocators. The 2026 Premiação Outliers InfoMoney, which has 16 categories and a long list of finalists, shows how mature and diverse the industry is.
The Brazilian asset management industry is always changing. New companies like Faros are making things more competitive and giving investors more choices. Investors benefit from this changing environment because it leads to new ideas, lower fees and better access to advanced strategies.
We encourage readers to explore these firms further, review their fund performance and investment philosophies and engage with their teams to assess which partnership best aligns with their financial goals and risk tolerance.
FAQ
1. What services do asset management companies in Brazil typically offer?
Brazilian asset management companies offer a wide range of services, such as managing retail and institutional funds (fixed income, equities, multi-market), alternative investments (real estate funds—FIIs, agribusiness funds—Fiagros, infrastructure funds—FI-Infra), private equity and venture capital, wealth management for wealthy families, ESG-integrated strategies and tailored solutions for pension funds and institutional investors. The specific services offered depend on the firm’s focus and the type of client.
2. How much do asset management services typically cost in Brazil?
In Brazil, management fees depend a lot on the strategy and distribution channel. Fixed income funds usually charge 0.5% to 2% per year, while equity and multi-market funds usually charge 1% to 3% per year, plus performance fees (20% of returns above a benchmark). Independent managers usually have more flexible fee structures that are based on performance. On the other hand, bank-distributed funds may have built-in costs for distribution. FIIs and Fiagros are listed funds that trade on B3. Their offering documents clearly show their fees.
3. How do I know if an asset management company in Brazil is reliable and credible?
Important signs are registering with the CVM (Brazilian Securities and Exchange Commission), following ANBIMA rules and codes, having a long track record, getting awards from independent sources (the Outliers Awards finalists are industry-validated performers), having audited financial statements, being open about fees and having a clear investment philosophy. Talking to current clients and looking at independent performance data from sources like ANBIMA or financial publications gives you more peace of mind.
4. Are asset management companies in Brazil suitable for foreign investors?
Yes, Brazil’s asset management industry is open to foreign investment. BlackRock and UBS are two global companies that have large operations in Brazil. More and more, Brazilian managers are offering feeder structures and offshore vehicles that foreign investors can use. Brazil’s strong macroeconomic fundamentals, deep capital markets and attractive valuations in some sectors continue to attract international investors. Foreign investors should talk to qualified legal and financial advisors who know about cross-border investment structures to make sure they know where their funds will be held, what taxes will apply and how currency exchange rates will affect their investments.
5. What should I prepare before contacting an asset management company in Brazil?
Prepare a clear statement of your investment goals, how much risk you are willing to take, how long you want to invest and any specific preferences you have for asset classes or sectors. For institutional investors, knowing your company’s investment policy, previous relationships with managers and how long it takes to make decisions helps firms make relevant proposals. Retail investors can find the best times to invest by knowing the minimum amounts they need to put in. These amounts can be as low as a few hundred dollars for retail funds or as high as R$ 25 million or more for exclusive family office services.
6. How does the Brazilian asset management industry compare to other Latin American markets?
Brazil has the biggest and most advanced asset management industry in Latin America, with AUM over R$ 7.5 trillion. The market has more different types of products (including complex listed options like FIIs and Fiagros), a larger base of institutional investors (including huge pension funds like PREVI and FUNCEF), a more developed regulatory framework under CVM and a stronger connection to global capital markets. Mexico’s and Chile’s asset management industries are growing, but they are much smaller and less complicated than Brazil’s.
7. What are the regulatory trends shaping Brazilian asset management?
Some important changes in regulations are stricter disclosure rules for alternative investment funds (FIIs, Fiagros, FI-Infra), the ongoing development of ESG disclosure standards, the ongoing evolution of distribution rules for digital investment platforms and possible tax reforms that could change how funds are set up. The CVM talks to people in the industry all the time and the 2026 Outliers Awards’ structure, which combines expert technical analysis with quantitative rankings, shows how committed the industry is to being open and having high standards for evaluation.
