Quasar Asset Management is an independent fund manager specialized in Private Credit and Direct Lending; offering solutions to Brazilian corporates.

Quasar

Corporate credit solutions

INSTITUTIONAL

QAM is an independent asset manager planned to structure credit to the Brazilian corporate market. Our objective is to raise long term capital alongside our investor base, creating structures that provide stable long-term capital to corporates looking to expand their businesses.

Presentation Letter

Corporates

Since 2008, after the financial crisis that shook global markets, corporate credit has been passing through a period of transformation. Our strategy is based in this redefinition and disintermediation process. We aim to establish long term relationships with the Brazilian corporate market offering flexible long-term credit lines, adequated to particularities of each business, allowing better refinance terms and capex.

Investors

We are specialists in private credit, therefore, we understand its risks and awards. Our portfolio of funds offer a balanced reward in credit, with adequate sustainabilities, to specific investor’s risk appetite. Quasar’s mantra is capital preservation and alpha generation in structured credit. Our investors will be delegating mandates to an experienced team, with expertise in credit, diversifying their portfolio to an uncorrelated asset class compared to existing product offering present in the market.

Diferentials

INVESTMENT PROCESS

Our experienced team is formed by seasoned professionals in specific areas of credit origination, structuring, monitoring, legal, analysis, risk and portfolio management. We obey a rigorous screening process, regulated by manuals and committees with vetoes and votes. Once a specific credit is approved by this process oriented investment, it will be subject to continuous monitoring process regulated by a specific area.

ALIGNMENT OF INTERESTS

Third party asset management carries fiduciary duties and potential conflict of interests. Quasar is aware of these conflicts, therefore, we structure our funds in a way to fully align interests of our Limited Partners (LP) and General Partners (GP). Our remuneration (GP) is always cash-on-cash, that means, we do not take intermediary gains until we return our investor’s capital and gains. This process determines the General Partner will be remunerated only if our investors are remunerated first. Any structuring fee associated to any specific investment is always reverted back into the fund, therefore, to our investors benefit.


The 4 P’s

Product: We believe everything starts when designing the product. We dedicate time and effort to structure investment vehicles that allows us to extract alpha in private credit prioritizing our investors interests.
People: Our moral and ethical standards are unnegotiable. For this reason, we search character and competence, which must come together. To be part of our team the professional must have experience, specific knowledge in his/her competence and perfect alignment with Quasar´s values.
Process: We believe that, obeying previously established processes, it´s perfectly possible to extract risk adjusted returns in private credit. Each area involvement in the investment process minimizes the investment risk.
Patience: Our passion is to invest, but we must be patient. Investing in structured credit with consistent returns demands time and shortcuts must be avoided. This way we need to constantly monitor premises and promises.

Team

QAM has a multidisciplinary team specialized in various area of credit. Since its foundation, Quasar has invested time and effort to attract an experienced team, with solid academic background and strategic intelligence in credit.

Founding partner – Chief Investment Officer (CIO)

Prior to founding Quasar was a Managing Director and associate partner at Banco Itau BBA for 8 years acting as Global co-Head of Equities. Before that worked as a Portfolio Manager for Merrill Lynch GSRG in London managing a long/short equity fund for Emerging Markets. Carlos has 25 years financial markets experience having worked in São Paulo, New York and London. He has a B.Acc. from PUC-SP and MSc from Insper-SP.

Senior Credit Partner

Prior to joining Quasar was a Managing Director and Partner at Banco Itaú BBA for almost 30 years, responsible for credit analysis, debt structuring and credit portfolio management. Genova has been with the bank since its foundation as BBA Creditanstalt. He has a B. Public Administration from FVG-EAESP and Postgraduate degree in Finance and Economics from FVG-EAESP.

Partner – Chief Legal Officer (CLO)

Prior to joining Quasar was a credit lawyer at Vision Brazil Investments with extensive experience in agribusiness. Specialized in business and corporate law with emphasis in contracts, foreign trade and credit structuring. Before that Fernanda was responsible for credit recovery in Citibank, Banco Real e Funcef. She has a B.L. from PUC-Campinas and post-graduation in Economics of Law with minor in Corporate Law from FGV-SP.

Partner – Chief Risk Officer (CRO)

Prior to joining Quasar was a Director at Barclays PLC for 14 years where was Head of Structuring in Brazil for 7 years responsible for all macro and credit structured transactions for corporate and institutional clients. During his time at Barclays also worked as rates trader responsible for the global institutional client flow business on Brazil local sovereign bonds. Before that was a senior manager at the bank supporting the proprietary and client flow desk on its risk figures and P&L. He has a B.Ec. from FEA-USP and MBA from Insper-SP.

Partner – Head of Origination

Prior to joining Quasar worked for Banco Itau BBA in 2012 in credit analysis, commercial area and debt structuring. His last position was relationship manager for Banco Pan, responsible for credit structuring, analysis and corporate client relationship. He has a B.Ec. from Insper-SP.

Partner - Head of Operations

Prior to joining Quasar was a Controller for Kobold Gestora de Fundos for 2 years. Before that, worked for 3 years at JP Morgan as a Project Manager for Private Banking Brazill, leading the team responsible for the global projects. She has also worked for 9 years at GPS Planejamento Financeiro, a multifamily office based in São Paulo. Has a B.Ec. from FAAP and MBA from Insper-SP.

Partner – Head of Credit

Prior to joining Quasar, was a Senior Credit Manager for Banco Bradesco and the Head of the Large Corporate Credit Analysis in HSBC Brazil. Prior to that he was a Credit and Corporate Research Manager at Banco Pine. With 20 years of experience in credit analysis, Frederico also worked for Banco Itaú BBA, Société Générale and Unibanco. He holds a M.Ec. from Insper-SP, MBA in Finance from FIPE - USP and a B. Prod. Engineering from Poli - USP. He also has a CNPI certificate.

Partner - Head of Monitoring

Prior to joining Quasar was a Head of Credit in Banco ABC for 12 years, responsible for credit analysis, collateral monitoring, credit recovery and corporate client relationship. With 20 years of experience in credit, Hugo also worked at Unibanco and Banco Lloyds TSB. He has a B.Ec. from FAAP-SP.

Partner - Credit

Prior to joining Quasar was a manager for Grupo Abril acting in New Business Area leading a team responsible for Strategic Planning, Valuation, M&A and Project Finance which created Abril Educação - after a series of transactions totaling R$4 billion in equity value. Lately he became CFO for the logistics arm of the group. Before that Marcelo worked as a Research Analyst at Banco Itau BBA and Unibanco. He has a B.Ec. from Insper-SP and MSc from Insper-SP (2017).

Partner - Credit

Graduated in economics at Insper-SP, Felipe started his career as an intern in Quasar Credit Team. Specializing in finance and fixed income, developed a monograph about CoCo Bonds. Currently, integrates the credit team as an analyst. He also has CPA-20 certificate.

Structuring

Prior to joining Quasar worked for Banco PINE in the Investment Banking department for three years, working with DCM, M&A and Project Finance. After that worked at G5 Evercore in the origination and execution of M&A and Restructuring transactions. He has a B.B.A. from Insper-SP and a Business Certificate from Columbia University.

Partner - Portfolio Manager

Prior to joining Quasar, Carlos worked as Portfolio Manager at BRAM (Bradesco Asset Management) / HSBC for the past 18 years, managing exclusive and open fixed income funds focused on private credit with an AUM of approximately 31 billions of reais. He also worked in the treasury of the Banks Crefisul and Fonte Cindam. Carlos has B.B.A with an emphasis on Foreign Trade from Ibirapuera University and an MBA in Finance from FIA-USP.

Partner - Member of Asset Management Department

Before joining Quasar, Carlos worked as Analysis Supervisor at BRAM (Bradesco Asset Management) until October /2017. Previously, he was Head of Equity & Credit Research for Latin America at HSBC Global Asset Management. He also held Deputy Director of Credit position at Banco CCF Brasil and worked in the equities area at ABN Amro Real Bank. Throughout his career in the CCF group, he worked for Crédit Commercial de France in Paris and CCF Mercosur at Buenos Aires. Carlos has B.B.E from PUC-SP and an MBA in Finance from USP.

Partner - Member of Asset Management Department

Prior to joining Quasar, Carlos was a fixed income manager at BRAM (Bradesco Asset Management) until September/2017. Previously, he worked at HSBC Asset Management first as a variable income analyst and, then, as the responsible for the Credit Area. He also worked with CCF Brasil, Citibank and Lloyds Bank. Carlos has a B.B.A from FGV - SP and holds a post - graduate degree in finance from FGV - SP.


Governance

QAM has structured its governance to perpetuate its business model based on three pillars:

  • Long term relationship with perfect alignment of interest between investors, GPs and corporates;
  • An independent board composed of seasoned professionals with vast experience in financial markets, credit and investments, which constantly evaluate our business and governance;
  • Rigorous process to screen, analyze and invest in private credit – always checked by meticulous external and internal controls, by our Compliance and Ethics Manuals.

 



Send us an email at:
ri@qam.com

If you love what you do and are interessed in being part of your project, send us your CV at:
rh@qam.com.br

Av. Pres. Juscelino Kubitschek, 1726 • Conj. 92
Itaim Bibi • São Paulo • SP • 04543-000
Tel.: +55 (11) 2872-9040