Vertente, which specializes in financial advisory services, has been on the market for 8 years and has generated R$1 billion every year since 2021, with state companies accounting for the majority of the amount.
A national agribusiness stronghold, accounting for R$97.4 billion of Brazilian production in the sector, Goiás has emerged in recent years on other fronts that were until now dominated by the southeastern states. The entry of companies from Goiás into the capital market has attracted attention and demonstrated that there is an attractiveness for investments outside the Rio-São Paulo axis.
Despite the scarcity of official data on the subject, Goias’ expectations are felt in companies such as Vertente, which was created with the aim of advising companies in mergers and acquisitions, as well as in raising funds on the capital market and financial institutions in the center of the country – the West – and now also in Santa Catarina.
“We have executed transactions worth R$ 1 billion every year, since 2021. Of this total, Goiás represents about 67.8% of the volume of values transacted,” says Cleiton Mendes, one of the company’s partners. According to him, the state gained not only the area, but the central and western area as a whole. The region represents about 77% of the transaction volume on which Vertente has advised since 2016. Goiás’ GDP grew by 5.3% in the third quarter of 2023, compared to the same period of the previous year. National GDP rose by 2% in the same period.
Clayton explains that companies in Goiás emerged from anonymity and sought the financial market to raise funds, to consolidate their businesses. “Larger and more organized agribusiness companies were raising money through Certificates of Agricultural Receivables (CRA), and at the same time there was a boom in real estate development, which eventually led to the promotion of CRI, leading to Goiás is gaining prominence in these areas,” he said.
CRI was selected by Habitat, the real estate company advising Vertente, which raised R$110 million with a certificate. The product was chosen so that the developer could raise funds to work on nine construction sites in cities located in southwest Goiás, in real estate projects known to be unique in the region.
“When a company reaches a certain level, as was the case with Habitat, it seeks to diversify its source of financing through the capital market, which it can meet mainly in terms of transaction deadlines. It is rare for a bank to provide a loan for a period longer than 6 Years. The capital market can operate for periods ranging from 10, 12 and 14 years.
Vertente has carried out financial advisory work with Habitat and co-structuring, with high growth investment brokerage, EQI, attracting individual investors. During this process, the company raised R$110 million, in a 10-year process.
Today Habitat has eight projects under construction in Goiás, all in the southwestern region of the state, which is among the largest national agribusiness centers. The total of these projects is 940 units. The focus is on high-end residential apartments, but the company also has commercial buildings in its portfolio. Habitat’s forecast is to invest about R$500 million by 2027.
Individuals are open to diversification
On the other side are the investors, and Vertente serves more than 200 economic groups that allocate more than R$500 million in investments. In addition, the company also advises high-net-worth individuals to make investments through advisory hired by Banco BTG Pactual. “We serve more than 1,000 high-income family groups,” says Marcelo Estrela, partner and one of the company’s investment advisors, with approximately R$1 billion.
He points out that individuals in Goiás are more open to diversifying their investments. “Our forecast for the coming years is: The capital market tends to occupy an increasingly larger space for investment between individuals. With reference to the National Financial System (SFN): The total credit portfolio allocated to companies reached R$ 2.2 trillion. At the same time, the total stock of credit operations reached Targeting housing, in the individual sector, 989.7 billion reais, while savings achieved a net withdrawal of 87.8 billion reais in 2023. In other words, people realize the attractiveness of these CRI transactions and prefer to invest rather than keep the money invested in Traditional methods such as savings accounts.
This was one of the motivations for the creation of another related initiative, the Third Party Resource Management, which is a highly regulated private structure that enables a certain degree of banking disintermediation, personalization of investor service, and above all: makes it possible for investors to access retail products that were otherwise restricted. Previously on institutions. “To make this structure viable for the client, the manager is subject to a strict regulatory scope, which is only possible with an experienced team and compliance area. Since its inception, the manager and its specialists have received recommendations from important names in the market.” explained Director of Compliance, PLD and Risk, Fernanda Souza
Vertente’s manager already has more than R$120 million under management, and these amounts are invested in investment funds in infrastructure engagements focused on the energy sector. “The idea is to expand and serve other sectors of the economy such as real estate and agribusiness soon,” says management director Rodrigo Borges.
Another area of activity for Vertente is insurance broking focused on fulfilling corporate orders under court rulings or large contracts, and a dedicated foreign exchange area, all together with fintech companies specializing in customer and supplier financing. “We have already issued insurance policies to guarantee contracts worth approximately R$ 850 million, and we have already executed approximately USD 170 million in foreign exchange transactions for both importers and exporters,” says Marcos Inocencio, Partner responsible for these business units of the company. . Disclosure
