Overview
                                    
                                    
                                        
                                            Adviser’s Advisory Business 
Brasil  Capital  Adviser  LLC,  a  Delaware  limited  liability  company  (“BC  Adviser”  or 
“Adviser”),  is  an  investment  manager  providing  investment  management  services 
primarily  for  institutional  and  other  accredited  and  qualified  clients  on  a  discretionary 
basis. BC Adviser was established in July 2020 and is held by a group of professionals 
with meaningful experience in the Brazilian equities market and with sound track record. 
The Adviser’s ultimate controlling partners, Messrs. Andre Ribeiro and Ary Zanetta have 
each over 20 years of experience as portfolio managers. 
Types of Advisory Services Adviser Offers 
 
BC  Adviser  provides  its  clients  with  discretionary  investment  management  services 
mainly focused on Brazilian listed equities. Notwithstanding, such services may also be 
performed with respect to equity securities issued by non-Brazilian companies that are 
publicly traded on any exchange worldwide. 
Advisory  services  offered  to  clients  generally  follow  the  same  overall  investment 
strategy.  Subject  to  specific  asset  restrictions  that  may  be  set  out  in  certain  advisory 
agreements, purchases or disposals of assets and securities are equitably allocated to all 
client accounts on a pro rata basis. 
BC  Adviser  serves  clients  primarily  through  separately  managed  accounts  and  private 
funds  (the  “Funds”).  The  services  are  provided  in  accordance  with  the  objectives  and 
guidelines applicable to each client, as set out in the applicable agreement
                                        
                                        
                                             which regulates 
the  management  of  such  managed  accounts  or  as  set  forth  in  the  respective  Fund’s 
offering document. 
Shares of the Funds are not registered securities under the U.S. Securities Act of 1933, as 
amended (the “Securities Act”). In addition, these Funds are not registered as investment 
companies  under  the  U.S.  Investment  Company  Act  of  1940,  as  amended  (the 
“Investment Company Act”). Accordingly, shares of these Funds are offered and sold in 
the United States and to United States persons exclusively to those investors satisfying 
the applicable eligibility and suitability requirements in private transactions pursuant to 
available  exemptions  under  the  Securities  Act,  the  Investment  Company  Act  and  any 
applicable U.S. state securities laws. 
Investment Restrictions 
The investment objectives, risk tolerance and financial circumstances of each Fund are 
generally described in its offering document. Clients may impose reasonable restrictions 
on the management of their accounts, including by restricting particular securities or types 
of investments. Clients should be aware that performance of restricted accounts may differ 
from performance of accounts without such impediments, possibly producing lower overall 
results. 
Wrap Fee Programs 
BC Adviser does not participate, sponsor or act as a portfolio manager for any wrap fee 
programs. 
Assets Under Management 
 
As of March 08, 2024, BC Adviser had assets under management of US$ 376,694,063.00, 
all of which was managed on a discretionary basis.