OUR
TEAM

João Carlos is Kapitalo’s Co-Founder, Managing Partner, and Chief Operating Officer, responsible for Risk Management, Compliance, Investor Relations, IT, and the back-office teams.

He previously served for eight years as Vice President and Senior Investment Banking Officer at Bank of America, then as Managing Director at Nomura Securities, overseeing the Brazilian operation for two years. He later joined Banco BBM, Brazil’s oldest financial group, where he served as Partner and Executive Officer for 11 years. It was during this time that he met Carlos Woelz, who would later become his partner in founding Kapitalo in 2009. João Carlos holds a B.Sc. in Civil Engineering from PUC-RJ and a postgraduate degree in Finance from FGV-SP.

Carlos is a Managing Partner, Co-Founder, and Portfolio Manager at Kapitalo Investimentos.

Before that, he built a solid career at Banco BBM, where he began as a fixed income trader. He later established the bank’s proprietary international treasury desks and became a statutory director, eventually serving as Treasurer.

Carlos holds a degree in Business Administration from Fundação Getulio Vargas (FGV-SP).

Hegler is a Managing Partner at Kapitalo and Portfolio Manager of one of the Brazilian Equities team.

He began his career in the financial markets in 1996 at Banco BBM, where he joined the team led by Carlos Woelz (one of Kapitalo’s founders), became a partner, and took charge of the Proprietary International Equities Desk. In 2008, he joined Banco Itaú BBA, initially as Head of the Proprietary Equities Desk and later as Portfolio Manager of the Proprietary Equities and Commodities Desks. Hegler has been with Kapitalo since 2011.

He holds a B.Sc. in Mechatronic Engineering from Poli-USP.

Shindi is a Managing Partner at Kapitalo and Co-Portfolio Manager of the Macro Edge team.

He began his career in 2007 at Link Investimentos and later joined Convenção CCVM, where he helped establish the options trading desk and developed software for options pricing and volatility modeling. Shindi joined Kapitalo in 2010 in the Risk team and moved to the investment team the following year.

He holds a B.Sc. in Aeronautical Engineering from ITA.

Nuno is a Managing Partner at Kapitalo and and Portfolio Manager of Emerging Markets FI and FX team.

He began his career in 2004 in the macro research department at Banco BBM. In 2008, he joined Gap Asset Management, becoming Partner in charge of the International Fixed Income and FX desk. He later moved to BW Gestão de Investimentos as Portfolio Manager of Global Fixed Income and FX strategies.

Nuno joined Kapitalo in 2014. He holds a B.Sc. in Production Engineering from UFRJ.

Bruno is a Managing Partner at Kapitalo and Portfolio Manager of one of the Brazilian Equities team.

He started his career in 2005 at Pátria Investimentos, becoming Portfolio Manager in 2010 for both long & short and long-only strategies. In 2013, he joined Ashmore Group as Portfolio Manager and member of the Investment Committee. Bruno joined Kapitalo in 2015. Since October 2020, he has also served as a member of the Board of Directors at Aura Minerals Inc. 

He holds a Bachelor’s degree in Public Administration from FGV/EAESP and is a CFA charterholder.

Bruno is a Managing Partner at Kapitalo and Portfolio Manager of the K10 strategy.

He began his career in 1998 at Banco BBM, one of Brazil’s oldest financial institutions. In 2008, he moved to London to join hedge fund manager Lentikia Capital. Following its merger with BTG Pactual in 2009, he became Executive Director, overseeing the Cross Asset Proprietary Desk – covering Commodities, Equities, and FX. In 2014, he founded Ciclo Capital, which was incorporated by Kapitalo in 2017.

Bruno holds a B.Sc. in Production Engineering from PUC-Rio and a Master’s degree in Economics and Finance from the London School of Economics.

Rafael is a  Partner at Kapitalo and Co-Portfolio Manager of the Treasury team.

He began his career in 2006 at Upside Asset Management and, in 2007, joined Banco CR2 as Head of the Risk Department. In 2009, he moved to Itaú Asset Management, where he became Co-Manager of the Structured Products desk.

He joined Kapitalo in 2014. Rafael holds a B.Sc. in Applied Mathematics from UFRJ and a Master’s degree in Economics from IBMEC-RJ.

Tulio is a Managing Partner at Kapitalo and Co-Portfolio Manager of the Developed Markets Macro team.

He began his career at Banco Itaú in 2000 and moved to Citibank in 2002, returning to Itaú in 2005 as an Economist for the Proprietary Desk. In 2009, he joined Iron House Fund, a family office, where he worked as Economist and FX Strategist. Tulio has been with Kapitalo since 2012.

He holds a Bachelor’s degree in Economics from FEA-USP and a Master’s degree in Economics from FGV-SP.

Daniel is a Managing Partner at Kapitalo and Head of the Global Equities and Corporate Debt team.

He began his career in 2003 at Banco BBM. From 2008 to 2012, he worked at Itaú Asset Management as Co-Portfolio Manager for Brazilian Long & Short strategies. He later joined Kondor Invest, where he became Partner and built his own equities team. Daniel joined Kapitalo in 2018.

He holds a B.Sc. in Production Engineering from UFRJ and is a graduate of the Stanford Graduate School of Business Executive Program (SEP).

Felipe is a Partner at Kapitalo and Co-Portfolio Manager of the Cross-Asset team.

He began his career in 2007 as an Economist at Gávea Investimentos, where he worked until 2014. From 2015 to 2018, he served as Head FX Strategist at SPX Capital. Felipe joined Kapitalo in 2018.

He holds a Bachelor’s degree in Economics from UNICAMP, a Master’s degree in Economics from PUC-RJ, and is a CFA charterholder.

Daniel is a Partner at Kapitalo and Head of the Event Driven team.

He began his career in M&A at Salomon Smith Barney in 2000 and later joined financial boutique Bassini Playfair Wright. Since 2006, he has focused on event-driven strategies, working on proprietary desks at Lehman Brothers, BTG Pactual, and Itaú BBA. From 2014 onward, he worked in asset management at Leste Investimentos. In 2018, he founded NW3 Capital, whose fund was transferred to Kapitalo in 2023.

Daniel holds a B.Sc. in Production Engineering from USP and an MBA from INSEAD.

Carlos is a Partner at Kapitalo and Head of Research. He began his career in 1995 as Chief Economist at Opportunity Asset Management.

He later became a Partner at Radix Asset Management and then served as Chief Economist and Portfolio Manager at BBA-Icatu. From 2007 to 2011, he worked as Senior Economist at the Federal Reserve Bank of New York. Carlos was also a Partner at Kyros Investimentos before serving as Deputy Governor for Economic Policy at the Central Bank of Brazil from 2016 to 2019. In 2020, he co-founded Asset 1 Investment Company and led its research efforts before joining Kapitalo in 2022. He has also been a faculty member in the Department of Economics at PUC-Rio since 2011.

He holds a Bachelor’s and Master’s degree in Economics from PUC-Rio and a Ph.D. in Economics from Princeton University.

André is a Partner at Kapitalo Investimentos and Co-Portfolio Manager of the Brazil Fixed Income team.

He began his career in the financial markets in 2001 at Banco Fibra, where he worked in the products division and trading desk, first as a FX trader and later as a fixed income trader. In 2010, he joined Banco Alfa as a senior proprietary trader focused on FX and fixed income. In 2011, he moved to Itaú BBA, where he served as a senior trader on the proprietary trading desk and, in 2019, became Head of the Local Fixed Income Desk.

He joined Kapitalo in 2025. André holds a degree in Civil Engineering from Mauá School of Engineering (IMT) and an MBA in Financial Markets from IBMEC.

Alfredo is a Partner at Kapitalo Investimentos and Co-Portfolio Manager of the Brazil Fixed Income team.

He began his career at BM&F – Brazilian Mercantile and Futures Exchange, working as an intern in the Technical, Agricultural, and Trading Floor divisions. In 2008, he joined Banco Itaú in the economic research department. He has been with Kapitalo since February 2010, where he first worked on the Economic Research team before assuming his current position.

Alfredo holds a degree in Economics from FEA-USP and a Master’s in Economics from PUC-Rio.

André is a Partner at Kapitalo Investimentos and Co-Portfolio Manager of the Macro Edge team. H

e began his career at Kapitalo in 2011, working for over four years as a fixed income trader. In 2016, he joined Kraft Heinz Company, where he led revenue management projects in Australia and the United Kingdom, later becoming Head of Revenue Management for the EMEA region. He returned to Kapitalo in 2020.

André holds a B.Sc. in Aeronautical Engineering from ITA and a Master’s in Economics from EPGE/FGV.

Tomer is a Managing Partner at Kapitalo Investimentos and Co-Portfolio Manager of the K10 strategy.

He began his career in the financial markets in 2010 at Vinci Partners, working in the international back office. In 2012, he moved to the trading desk and began participating in portfolio management. He joined Kapitalo in 2017.

Tomer holds a degree in Economics from IBMEC.

Vinícius is a Managing Partner at Kapitalo Investimentos and Co-Portfolio Manager of the K10 strategy.

He began his career in 2007 at Banco BBM, where he worked as a junior portfolio manager on the DM Macro desk. From 2008 to 2010, he was part of the local rates team and later became Head of the Brazil Fixed Income book at BBM Asset Management, expanding to global rates in 2014. He joined Kapitalo in 2017.

Vinícius holds a B.Sc. in Mechanical Engineering from IME-USP and a Master’s in Mathematical Methods Applied to Finance from IMPA.