PIPE Unidas

Unidas is one of the largest car rental companies in Brazil.


PIPE Tenda

Tenda is one of Brazil’s leading builders and developers focused on the low-income projects launched at range 2 of Minha Casa Minha Vida Program (MCMV).


Senior Managing Partner and Co-Founder at Patria, primarily responsible for Patria’s Private Equity Division and a member of Patria’s Board, Executive Committee, Management Committee and Investment Committees. Mr. Saigh held and currently holds board member positions in several of Patria's Funds' Invested Companies. Mr. Saigh was one of the founders of Patria in 2001 (successor of Patrimônio) developing and leading the efforts for Patria to become one of the leading alternative investment firms. Mr. Saigh joined Patrimônio (Patria’s predecessor company) in 1994, as a Managing Partner responsible for the development and execution of the Firm’s private equity business. Between 1994 and 1997, while developing Patrimônio’s private equity business, Mr. Saigh was Chief Executive Officer and Chief Financial Officer of Drogasil, one of the leading drugstore chains in Brazil and Patria’s first private equity investment. Prior to joining Patrimônio, Mr. Saigh worked at JPMorgan Investment Bank from 1989 to 1994, as a Vice President for its private equity, corporate finance and M&A divisions. Mr. Saigh holds a Bachelor’s Degree in Financial Management and Hotel Administration from Boston University and a Post-Graduate Certificate of Special Studies in Administration and Management from Harvard University.

Senior Managing Partner and Co-founder at Patria primarily responsible for the Real Estate and Credit divisions and a member of Patria's Board and Executive Committee. Mr. Matarazzo was a founding partner of Patria in 2001 (successor of Patrimônio), developing and leading the efforts for Patria to become one of the leading alternative investment firms in Brazil. Mr. Matarazzo is one of the founders of Patrimônio in 1988 and led its capital markets and proprietary desks, as well as the relationship with Salomon Brothers' fixed income desk. After the sale of Patrimônio to Chase Manhattan in 1999, Mr. Matarazzo spent two years at Chase Manhattan where he was co-responsible for its proprietary and capital markets desks in Brazil. Prior to founding Patrimônio, Mr. Matarazzo worked at JPMorgan as a Vice President for its Corporate Finance division. Mr. Matarazzo holds a Bachelor's Degree in Business Administration from Universidade de São Paulo (USP) and a board member positions in several of Patria invested companies.

Partner at Patria since 2005, primarily responsible for new investments in the Private Equity and PIPE strategies. Mr. Scavazza joined Patrimônio in 1999 and has worked on several new investments and acquisitions for the portfolio companies of Fund I, II, III, IV and V. Mr. Scavazza worked as Chief Executive Officer at Anhanguera between 2009 and 2013. Additionally, Mr. Scavazza was Chief Financial Officer at DASA, in 2001, and at Anhanguera from 2003 to 2006. Mr. Scavazza holds a Bachelor’s Degree in Business Administration from Fundação Getúlio Vargas.

Flavio Menezes is a Partner at Patria and Investment Leader for Public Equities. Mr. Menezes is also a Board Member and Head of the Finance and Audit Committee at Construtora Tenda S.A., a publicly traded developer focused in low income housing and a Board Observer at Unidas S.A., one of Brazil´s leading mobility companies, also listed at the Bovespa Stock Exchange. Prior to joining Patria in 2012, Mr. Menezes was a Founding Partner and Portfolio Manager at Mainstay Capital, an independent asset manager focused on Brazilian equities, and  Partner and Chief Investment Officer at GPS – Global Portfolio Strategists, a leading independent investment advisor and multi-family office. Mr. Menezes was also the Founding Partner, Chairman and CEO of Mundomedia, an interactive advertising startup, and a Managing Partner and Head of Public Equities Asset Management at Banco Patrimonio de Investimentos. Mr. Menezes has over 25 years of experience in the Brazilian equity markets as research analyst and portfolio manager. Mr. Menezes holds a bachelor´s degree in Business from EAESP – FVG and an MBS in Finance and Accounting from the Booth School of Business at the University of Chicago.

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Regulatory and Compliance

Please note that certain regulatory documents specifically prepared to comply with Brazilian regulations are only available in a Portuguese version.

1- Code of Ethics and Rules of Conduct

2- Código de Ética e Regras de Conduta

3- Manual de Compliance

4- Compliance Manual

5- Regras, Procedimentos e Descrição dos Controles Internos, elaborados para o cumprimento da Instrução CVM 558/15
6- Política de Gestão de Risco
7- Política de Investimentos Pessoais
8- Manual de Precificação de Ativos - Patria

9- Manual de Precificação de Ativos - Itaú (custodiante e controlador dos fundos administrados pelo Patria)
10- Política de Rateio e Divisão de Ordens

11- Política de Voto
Formulários de Referencia (ICVM 558 Anexo 15-II):

12- Patria Investimentos Ltda.
13- Patria Infraestrutura Gestão de Recursos Ltda.
14- TERA Capital Gestão de Recursos Ltda.

15- Manual de Gerenciamento de Risco de Liquidez

16- Responsible Investment Policy (ESG)

17- Política de Investimento Responsável (ESG)

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