Brazilian Credit Manager Sparta Doubles Assets to R$17 in 2024
Sparta Fundos de Investimento, a Brazilian asset management firm, has seen extraordinary growth in 2024. The company’s assets under management surged by R$7 ($1.1 billion) billion, reaching R$17 ($2.7 billion) billion by year-end.
This impressive increase reflects the booming private credit market in Brazil. Ulisses Nehmi, Sparta’s CEO, has played a crucial role in this success story.
An electrical engineering graduate from ITA, Nehmi also holds a master’s degree in economics from FGV. His journey in finance began early, with his father encouraging him to invest in stocks before age 10.
Nehmi’s professional experience includes a stint at Santander, where he honed his skills in fund management and derivatives trading. This background prepared him well for his current leadership role at Sparta.
The company’s transformation from its roots in agricultural commodities to a leader in private credit has been remarkable. Sparta‘s pivot to private credit in 2010 set the stage for its recent growth spurt.
The firm’s success has not gone unnoticed, with FGV recognizing it as the best fixed-income asset manager in its niche group in 2023.
Growth and Challenges in Brazil’s Private Credit Market
Sparta’s popular investment funds, JURO11 and CDII11, have attracted significant investor interest. These infrastructure funds, listed on the stock exchange, offer tax exemptions for individual investors.
The CDII11 fund raised R$1 ($0.2 billion) billion, with demand reaching R$2 ($0.3 billion) billion in the first hour of its offering. The growth of Sparta aligns with the broader expansion of Brazil‘s private credit market.
Globally, the private credit market topped US$1.5 trillion in early 2024 and is expected to reach US$2.8 trillion by 2028. In Brazil, private credit funds and FIDCs grew by 230% and 210% respectively between 2020 and September 2024.
Several factors have contributed to this surge in private credit. Brazil’s high Selic rate, currently at 10.75%, has made fixed-income investments particularly attractive.
The macroeconomic scenario in 2024 has been favorable for fixed-income securities, driving strong investor demand for private credit products. However, challenges loom on the horizon.
Economic uncertainties for 2025 persist, with concerns about inflation and potential slowdowns. As the market expands, maintaining high credit quality will be crucial. Sparta’s focus on high-grade issuers may prove advantageous in navigating these challenges.
More: Brazil news in English, every day from The Rio Times.
Live Market IntelligenceBrazil — Live Market Board
Rio Times · Live Market Intelligence
Brazil — Live Market Board
+0.66%
172,457.76
+0.66%
71,204.98
-0.84%
10,660.94
+0.34%
2,848,945
—
2,452.46
-0.02%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 172,457.76 | +0.66% | +9.73% | 171,324.31 | 172,715 | 171,132 | — |
| USD/BRL | 5.67 | +0.45% | +7.09% | 5.64 | 5.67 | 5.63 | — |
| SELIC | 13.75% | — | — | — | — | — | |
| PETR4 | 45.30 | +1.34% | +39.43% | 44.70 | 45.44 | 44.62 | 23,431,200 |
| VALE3 | 63.50 | -0.70% | -3.30% | 63.95 | 64.24 | 63.12 | 11,175,700 |
| ITUB4 | 42.27 | +1.42% | +7.66% | 41.68 | 42.56 | 41.62 | 19,532,400 |
| BBDC4 | 14.52 | +1.40% | -25.46% | 14.32 | 14.54 | 14.27 | 32,353,600 |
| BBAS3 | 15.10 | -2.45% | -32.89% | 15.48 | 15.60 | 14.98 | 85,573,900 |
| B3SA3 | 14.89 | +0.88% | +2.90% | 14.76 | 14.94 | 14.53 | 34,792,900 |
| ABEV3 | 15.79 | +0.25% | +15.85% | 15.75 | 15.83 | 15.64 | 13,254,800 |
| WEGE3 | 51.31 | -0.66% | +14.48% | 51.65 | 52.05 | 50.93 | 7,741,000 |
| PRIO3 | 63.30 | +0.00% | +58.93% | 63.30 | 63.83 | 62.65 | 10,460,300 |
| SUZB3 | 54.77 | -2.27% | +14.92% | 56.04 | 55.98 | 54.66 | 3,845,300 |
| RENT3 | 30.07 | +1.66% | -28.47% | 29.58 | 30.35 | 29.58 | 7,599,300 |
| AZZA3 | 15.91 | -5.86% | -45.85% | 16.90 | 17.10 | 15.72 | 6,641,600 |
| CSNA3 | 3.72 | -12.06% | -56.79% | 4.23 | 4.14 | 3.71 | 54,060,600 |
| GGBR4 | 24.73 | -0.96% | +30.78% | 24.97 | 25.09 | 24.53 | 5,458,200 |
| ENEV3 | 26.81 | -0.70% | +38.98% | 27.00 | 27.09 | 26.64 | 5,990,500 |
This article was produced by The Rio Times’ automated AI newsroom. Editorial responsibility: Matthias Camenzind, Publisher and Editor-in-Chief. The Rio Times also runs Ask Rio Times, which answers from 100,000+ of our own articles, the daily Latin America Power Map, and prediction-market odds on elections and markets.. How we use AI · Report an error
LatAm Markets: Live Signals → — real-time movers, turnover leaders and FX across Latin America.
Brazil runoff, Sunday, October 25: Brazil runoff: date, poll closing times and when results start. Latest: Brazil runoff polls, Flávio 51%, Lula 49%.