We are an independent investment management firm focused on real assets, operating across real estate, credit, equities, and multi-strategy investments.
Founded in 2000 by Paulo Bilyk and Gustavo Franco, we are long-term fundamentalist investors, and we operate on the conviction that investing is an activity of common sense and maturity: identifying quality assets, paying competitive prices, and managing them rigorously until the right moment.
We manage R$13.2 billion in assets in Brazil for investors of all sizes, individual and institutional, domestic and international.
The entire financial market sells a single product: the future. Does that sound abstract? When you invest in a fund, your money can help expand solar power plants, build educational institutions, and construct airports. There is nothing abstract about that.
“The future” is perfectly concrete. And for those who face the difficult task of choosing futures, there is Rio Bravo. We select the best assets with transparency and a long-term view, because whoever offers shortcuts is not truly concerned with your future.
With a quarter century behind us, we have learned the value of time. And with more than R$13 billion under management, we have learned the value of every contribution. We take care of your money with the responsibility it deserves. After all, to us, it isn’t money. It’s the future.
We build close, genuine relationships with our clients to deliver the best possible experience in wealth building and management.
We are committed to transparency, clarity, and objectivity in our communication processes.
We are not a homogeneous group of “equals.” We believe in diversity and in the potential of exchanging information and strategies across our teams.
We take a long-term view across all of our business, with a conservative approach to our operations.
We are committed to rules and processes, which allows us to go further while keeping risk balanced.
Meet Rio Bravo’s leadership.
Teams specialized by strategy. No star managers — just processes, interdisciplinary work, and collegial decision-making. We are committed to offering financial solutions that drive our clients’ growth.
Fosun acquired a strategic stake in Rio Bravo in 2016, its first investment in Latin America.
The collaboration between Rio Bravo and Fosun is a strategic partnership to leverage Rio Bravo’s regional expertise for business expansion in the Brazilian market and to capture synergies with Fosun-China. Rio Bravo maintains full strategic and operational independence in Brazil.
Fosun was founded in 1992 by Guo Guangchang. It is a company listed on the Hong Kong Stock Exchange with investments in more than 35 countries, holding approximately US$117 billion in assets across sectors such as healthcare, insurance, tourism, and financial investments.
Learn more about FosunRio Bravo is an independent asset management firm. It is not part of any banking group. The Fosun Group has held an equity stake since 2016, but Rio Bravo operates with full strategic and operational autonomy in Brazil. It holds an ‘AMP-2 (Strong)’ rating from S&P Global Ratings.
Rio Bravo was founded in 2000 by Paulo Bilyk and Gustavo Franco. Paulo Bilyk is the CEO and CIO, responsible for strategic and investment decisions. Gustavo Franco, former president of the Central Bank of Brazil and one of the principal architects of the Plano Real (Real Plan), serves as Senior Advisor: he leads the economics team and contributes long-term economic and strategic insight.
Rio Bravo believes that investing is, above all, an activity of common sense and maturity. Always, and under any circumstances, common sense and maturity should guide the direction of any capital allocation. Our approach to allocating capital across various strategies requires a patient attitude. We know how to identify quality assets and pay competitive prices for them. And we know how to manage them over time until the optimal moment arrives for their realization.
We are naturally focused on evaluating assets individually, from a microeconomic perspective. We are buyers and sellers of assets in all our markets, across every stage of the economic cycle. We are cautious about macroeconomic forecasts in determining the direction of asset values, even as we closely monitor and carefully assess economic scenarios to evaluate their potential effects on the companies, properties, credits, or derivatives we decide to buy and hold.
70% of our investment analysis is bottom-up. 30% is top-down.
Rio Bravo’s investment management process is built on teams — teams of people with different talents and different ways of seeing and living. We are not a homogeneous group of equals. We have team leaders, but we do not have star managers. We believe in interdisciplinary work, broad intellectual curiosity, and the unbiased exchange of ideas as a source of intelligent decision-making.
We believe in the exchange of information between investment strategy teams, and we promote formal environments for this exchange within our investment management process. Every year, we have increased our use of automated data-processing tools to support our decisions.
We build teams of young professionals with advanced training to access multiple, large-scale data sources and process them using sophisticated models backed by significant investment in technology. Ultimately, our decisions will always carry a qualitative bias, but they are supported by rigorous quantitative analysis.
Yes. Rio Bravo holds an ‘AMP-2 (Strong)’ rating assigned by S&P Global Ratings. This rating assesses investment processes, corporate governance, risk controls, operational capacity, and team stability. For institutional investors and distributors conducting due diligence, it is one of the most closely observed objective indicators.
Yes. ESG is integrated across different strategies. RBIF11 incorporates environmental, social, and governance analysis in the selection of infrastructure projects. Rio Bravo Templeton Climate Change FIA IE invests in global companies focused on the energy transition. Rio Bravo’s ESG Policy is available on the Governance page.
Rio Bravo manages and administers R$13.2 billion in Brazil across three main strategies: real estate funds with R$10.2 billion (FIIs — Brazilian listed real estate funds — in office buildings, logistics, retail, residential, and shopping centers); credit with R$1.5 billion (private credit funds, real estate credit FIIs, infrastructure funds, and FIDCs); and equities and multi-strategy with R$1.5 billion (the QLBR11 ETF and equity funds). The firm also offers customized portfolio management solutions for institutional clients through its Investment Solutions vertical, in addition to fiduciary services for individual investors, institutional investors, and allocators.