Norte Asset Management was founded in 2020 by a group of partners with solid, complementary, and successful careers in the equity and fixed income markets, which shared a common goal: to set up an asset management company for the long term.

Human capital is the most valuable asset of a successful business, and only in a meritocratic environment people are truly encouraged to perform at a level of excellence.

We combine a fundamentalist view and a thorough microeconomic sectorial analysis for the medium and long term with a domestic and international macroeconomic analysis.

Independent risk management area, reporting to the executive committee, monitoring portfolio risk in real time. Management team focused on capital preservation and hedging against tail events.

Norte Asset Management was founded in 2020 by a group of partners with solid, complementary, and successful careers in the equity and fixed income markets, which shared a common goal: to set up an asset management company for the long term.

Human capital is the most valuable asset of a successful business, and only in a meritocratic environment people are truly encouraged to perform at a level of excellence.

Norte Asset Management was founded in 2020 by a group of partners with solid, complementary, and successful careers in the equity and fixed income markets, which shared a common goal: to set up an asset management company for the long term.

Human capital is the most valuable asset of a successful business, and only in a meritocratic environment people are truly encouraged to perform at a level of excellence.

We combine a fundamentalist view and a thorough microeconomic sectorial analysis for the medium and long term with a domestic and international macroeconomic analysis.

Independent risk management area, reporting to the executive committee, monitoring portfolio risk in real time. Management team focused on capital preservation and hedging against tail events.

Norte Asset Management was founded in 2020 by a group of partners with solid, complementary, and successful careers in the equity and fixed income markets, which shared a common goal: to set up an asset management company for the long term.

Human capital is the most valuable asset of a successful business, and only in a meritocratic environment people are truly encouraged to perform at a level of excellence.

Arrow

Senior investment team Bio

We built a solid, aligned and cohesive team and adopted a collaborative management philosophy.

Gustavo Salomão, CFA

CV
Citibank
Garantia / Credit Suisse
QMS
Norte Asset

Rafael Furlan, CFA, CAIA

CV
HSBC Asset / BRAM
Miles Capital
Norte Asset

Egídio Freitas, CFA

CV
HSBC Asset / BRAM
Norte Asset

Diego Bottai

CV
JP Morgan
ABN
Itaú
NP Investimentos
HSBC Asset /BRAM
BNP
Qua
sar
Norte Asset

Rafael Castro, CQF

CV
Safra
BGC
BNP Paribas Asset
Norte Asset

Gabriel Gomes, CFA

CV
Itaú
Norte Asset

Lucas Canteras

CV
Citibank
Goldman Sachs
Norte Asset

Marcelo Mizrahi

CV
Safra Asset
Itaú Asset
Ibiúna
Itaú Asset
Norte Asset

Gianluca Formicola

CV
Insper
Jr

Moss
Norte Asset

Luis Tofano

CV
FGV
Finance
Aber
deen
Norte Asset

Elber Pessanha

CV
Puravida
Norte Asset
Indicador de Scroll

Investment philosophy

We implement a pragmatic and dynamic investment philosophy, considering macro and microeconomic factors, seeking to respect and understand the market tendencies, without putting aside our convictions. Investment decisions are only made after a detailed study of the companies and their respective sectors.

STRUCTURAL

Fundamental analysis with medium- and long-term vision (financial modeling and investigative work)
Capture of structural movements through core positions.

TACTICAL

Constant monitoring of market distortions and asymmetries.
Constant usage of hedging to protect the portfolio.

Balança

Principles

Ethics and Compliance

We follow strict standards of professional and personal conduct, in accordance with Anbima and CVM best practices. We believe this is an unnegotiable and crucial aspect in the construction of any business or relationship.

Meritocracy

Human capital is the most valuable asset of a successful business, and only in a meritocratic environment people are truly encouraged to perform at a level of excellence.

Alignment

We will have a single NAV per share and the members of the management team will be evaluated by their individual attribution, as well as by their contribution to allocation decisions of the portfolio as a whole, to people management and general development of the company. Teamwork and owner spirit are paramount for business growth over time.

Risk Management

Independent risk management area, reporting to the executive committee, monitoring portfolio risk in real time. Management team focused on capital preservation and hedging against tail events.

Firm's evolution

We understand that the secret for motivating, attracting, retaining, and expanding the team with talented and focused people is: alignment, respect, and meritocracy.

AUM

(R$ MM)
1.426
46

Team

13
9
  • Long Bias

  • Long Only

  • Management

  • Support

AUM

(R$ MM)
1.439
52

Team

15
10
  • Long Bias

  • Long Only

  • Management

  • Support

AUM

(R$ MM)
1.148
52

Team

14
10
  • Long Bias

  • Long Only

  • Management

  • Support

AUM

(R$ MM)
691
48

Equipe

12
9
  • Long Bias

  • Long Only

  • Management

  • Support

2024

2023

2022

2021

Downloads

Gustavo Salomão, CFA

27 years of experience in the financial market. Gustavo started his career in 1994 as a trainee at Citibank and in 1995 he was hired by Banco Garantia (purchased by Credit Suisse in 1998) where he remained for 21 years at the proprietary trading desks. After developing his career in equities, in 2007 he became head of the equities desk and in 2010 he also became head of treasury of Credit Suisse. He was Managing Director and member of the Executive Board of the Credit Suisse Brazil for about 10 years. After leaving the bank, Gustavo started investing in venture capital and in 2018 became a partner at QMS Capital, where he stayed until July 2020, when he decided to found Norte Asset Management and become its CIO. He holds a bachelor’s degree in Computer Engineering from ITA and is a CFA charterholder.

Rafael Furlan, CFA, CAIA

15 years of experience in the investment fund industry. Rafael started his career in 2007 at HSBC Asset in the Asset Allocation area, as analyst and later portfolio manager of exclusive funds. At HSBC Asset he was an equity analyst for 4 years and when HSBC was bought by Bradesco he remained on the same team. Later in 2017, he was one of the founders of Miles Capital working as co-manager and head of research until leaving to establish Norte Asset Management, where he is the analyst responsible for retail and consumption, food and beverage, agro and real estate & malls sectors. He holds a BA in business administration from EAESP-FGV, a specialization in Venture Capital, Innovation and disruptive business from Stanford University and is a CFA, CAIA and CGA charterholder.

Egídio Freitas, CFA

14 years of experience in the investment fund industry. Egidio started his career at HSBC, where he was strategist and portfolio manager of multi-market macro funds between 2008 and 2015. Later he was the portfolio manager responsible for multi-market funds at BRAM focused on fixed income and currencies in the domestic and international markets, where he remained until he became a co-founder partner of Norte Asset Management in 2020. He holds a bachelor’s degree in Production Engineering from the Polytechnic School of the University of São Paulo.

Diego Bottai

18 years of experience in the financial market. Between 2004 and 2009 Diego worked for JP Morgan, ABN and Itaú as a market risk analyst. In 2009 he started his career as an equity analyst at NP Investimentos, later working at HSBC Asset/BRAM and BNP Asset. Between 2019 and 2020 he was partner at Quasar Asset working as  fixed income analyst, until he became co-founder partner of Norte Asset Management. He holds a BA in Economics from FEA-USP and a professional master’s degree in Economics and Finance from Insper.

Rafael Castro, CQF

With 10 years of experience in the financial market, Rafael Castro started his career in 2011 at Banco Safra and worked at BGC Liquidez before joining BNP Paribas Asset Management in 2013 as a derivatives trader. In 2015, he took over the Latin America equities desk, centralizing cash and derivatives tradings for the region. At the end of 2019 he started to support directly the management of the Long & Short fund.  In 2020 he became a co-founder partner of Norte Asset Management, where he is responsible for equities and options trading. He holds a BA in Economics from USP and a CQF (Certificate in Quantitative Finance).

Lucas Canteras

8 years of experience in the financial market and in commodities analysis. He started his career in 2015 at Citibank, where he stayed for 3 years and worked as equities analyst focused on the Metal & Mining sector. Later, he joined Goldman Sachs as equities analyst covering the Mining, Metal, Pulp and Paper sectors. At the beginning of 2021, Lucas decided to leave Goldman Sachs to co-found Norte Asset, where he will work as equities analyst responsible for the Metals & Steel, Pulp & Paper, Oil & Gas and Fuel Distribution sectors. He holds a Ba in Business Administration from FGV-EAESP and is  a CFA level II shareholder candidate.

Gianluca Formicola

Iniciou sua carreira na Moss, empresa focada em desenvolver um marketplace proprietário para a compra e venda de créditos de carbono. Hoje, atua na equipe de analise da Norte Asset, com foco nos setores de Transportes, Aviação, Bens de Capital, Utilities e Telecomunicações. É formado em engenharia mecatrônica pelo Insper, onde foi Diretor Presidente da Insper Jr. Consulting.

Luis Tofano

Possui 2 anos de experiência na indústria de fundos de investimento. Iniciou sua carreira no time de Equities em Global Emerging Markets da Aberdeen Standard Investments, focado nos setores de commodities, varejo discricionário e não discricionário. É formado em Administração de empresas pela FGV-EAESP onde foi o head de portfólio do FGV-Finance, a liga de mercado financeiro da FGV.

Marcelo Mizrahi

20 years of experience in the investment fund industry. Marcelo started his career as a trainee in 2002 at Safra Asset Management later becoming portfolio manager of institutional equity funds. In 2007 he joined Itaú Asset Management as senior equity analyst until 2017, leaving to became partner of Ibiúna Investments managing several domestic sectors. In 2022 he joined Norte Asset Management, as a partner, where he is responsible for the financials, education and healthcare sectors. He holds a bachelor’s degree in business administration from FAAP and is a CGA charter holder

Gabriel Gomes, CFA

Formado em economia pela UNESP, iniciou sua carreira em 2019 como especialista de investimentos no Banco Itaú, onde posteriormente exerceu o cargo de Equities Trader durante 2 anos, até se juntar ao time de trading de ações e opções da Norte Asset Management. Possui certificado CEA, ANBIMA, PQO, B3 e CFA.

Elber Pessanha

Iniciou sua carreira na economia real junto ai time de business development da Puravida após o investimento feito pelo fundo de private equity Aqua Capital.Se juntou a equipe de análise da Norte Asset em 2021, auxiliando na cobertura dos setores de Financials, Education e Healthcare. É formado em Administração de Empresas pelo Insper, onde integrou a equipe de private equity do InFinance, a liga de mercado financeiro do Insper.

Este site usa cookies e dados pessoais de acordo com as nossas Políticas de Cookies e, ao continuar navegando neste site, você declara estar ciente dessas condições. Eu aceito