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Team

An investment team.
Carrying forward a practice built since 2012.

Founding Partners

The founding partners.

Three founding partners with combined experience across asset management, capital markets and consulting — leading the firm's investment philosophy, strategy and governance.

Founding partner · Chairman and Chief Strategist

Pedro Barreto.

30+ years in international real estate investment
  • Founder of Ativore with over 30 years of experience in international real estate investments.
  • Structured real estate investments in over 30 states in the USA since 2012.
  • 20 years as Partner/CEO and/or Consultant at Arthur Andersen, Deloitte, and KPMG in 4 countries.
  • Led M&A projects and major national projects in the financial sector.

Education: MBA – Master in Business and Administration from Warwick University (UK) and Economist from Universidade Católica de Petrópolis (Brazil).

LinkedIn
Founding partner · CEO

Roberto M. Nishikawa.

30 years in international financial markets
  • Founder of Ativore Asset with over 30 years of experience in the international financial market.
  • CEO of IBT Asset Management, CEO of Itaú Corretora de Valores, and Head of Equities.
  • Led the international expansion of Itaú Asset Management.
  • Member of the Board of Harvard Business School Alumni Angels Brazil since 2016.

Education: Degree in Industrial Engineering from University of Sao Paulo and Postgraduate degree in Finance and Marketing from FGV-SP.

LinkedIn
Founding partner · Member of the Board of Directors

André Macieira.

Member of the Board of Directors of the Ativore Group
  • Co-founder and member of the Board of Directors of Ativore Group.
  • Co-founder and director of EloGroup, a full-service consulting firm in Brazil that integrates technology, analytics, and management to drive business digital transformation, with over 500 employees.
  • Holds a Master's in Production Engineering from UFRJ and is co-author of the book 'Repensando a Gestão por Meio de Processos: Como BPM pode transformar negócios e gerar crescimento e lucro' ('Rethinking Management Through Processes: How BPM Can Transform Businesses and Drive Growth and Profit').

Education: Bachelor's and Master's in Production Engineering from UFRJ.

LinkedIn

Founding partners typically commit personal capital alongside investors.

Executive Partners

Executive partners.

Executive partners leading products, portfolio, institutional sales and investor relations — alongside the founding team.

Products · Portfolio · Institutional Sales · IR · 4

Maria Alice Bellon.

Ativore Partner & Managing Director, Products and Investment
COO · head of compliance
  • Developed the firm's proprietary investment analysis frameworks — Value Drivers, Benchmarking, Sensitivity and Stress Tests.
  • Designed the structuring architecture of Ativore's investment funds.
  • Economist (USP), MSc Finance candidate (USP).
  • LinkedIn

Carolina Bellio.

Ativore Partner & Managing Director, Institutional Sales
15+ years in financial markets
  • Leads the institutional investors franchise.
  • Senior positions across asset management at Credit Suisse, Banco Votorantim and Banco Bradesco — covering portfolio, products, distribution and investor relations.
  • Active in alternative investments (Private Equity, Real Estate and Credit) since 2013.
  • LinkedIn

Olivia Monaco.

Partner · Investor Relations & Private Banking
8+ years in investor relations & private banking
  • Partner & Private Banker at Ativore — leading day-to-day coverage of institutional and qualified investor mandates and private client relationships. Progressed from Senior Investor Relations to Partner since 2021.
  • Former Relationship Manager at Banco Safra — serving private and corporate investor clients and supporting their investment decisions.
  • Bachelor's in Business Administration from FAAP · ANBIMA-certified professional.
  • LinkedIn

Rafael Rissi.

Associate Partner · Products
11+ years in audit & financial management
  • Responsible for operations and monitoring of Ativore's funds.
  • Supports investment decisions through financial analyses and performance reviews of real estate assets.
  • 11-year track record in internal audit and financial management · global experience including Nestlé.
  • Economist from UFRGS and MBA in Finance from Insper.
  • LinkedIn
+20
Extended Team
4 Executive Partners and 20+ Professionals Across the Firm.

Together with the partnership above, an extended team across investment, distribution, governance and operations — applied to every transaction Ativore Asset originates, structures, and monitors.

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Ativore Group

Ativore Group Holding Ativore Asset JSB Ativore Shield Tax Global Advisors Ativore Asset is an independent investment manager within the Ativore Group.
Selo ANBIMA Autorregulação — Gestão de Recursos Selo ANBIMA Autorregulação — Distribuição de Produtos de Investimento

A presente instituição aderiu ao Código ANBIMA de Administração e Gestão de Recursos de Terceiros, nas atividades de Gestão de Recursos de Terceiros e de Distribuição de Produtos de Investimento.

Ativore Gestora de Recursos Ltda. · CNPJ 33.754.914/0001-05

Investment manager authorized by the Brazilian Securities Commission (CVM) · Resolução CVM 21/2021

Track record figures reflect the cross-border practice carried forward by Ativore Asset since 2012 — across current CVM-regulated funds (manager incorporated in 2019) and predecessor advisory portfolios (2012–2018). Figures are not exhaustive and are presented with explicit attribution to the entity that generated them. Investors should read the fund documents carefully before investing.

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