{ "crd_number": 336712, "slug": "m-square-investimentos-ltda-sao-paulo-336712", "primary_business_name": "M SQUARE INVESTIMENTOS LTDA.", "legal_name": "M SQUARE INVESTIMENTOS LTDA.", "dbas": [], "city": "Sao Paulo", "state": null, "country": "Brazil", "cbsa_code": null, "metro": null, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2025-08-04", "years_registered": 1, "period": "2026-10-01", "filing_date": "2026-03-31", "carried_forward": false, "raum_total": 2251538613.0, "raum_discretionary": 2251538613.0, "raum_non_discretionary": 0.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 22, "advisory_employees": 5, "client_count_bucket": null, "clients_by_type": { "pooled_investment_vehicles": { "raum": 1173556662.0, "count": 25 }, "corporations_other_businesses": { "raum": 1077981951.0, "count": 9 } }, "compensation_types": [ "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [], "websites": [ "https://linkedin.com/company/m-square-investimentos", "https://msquare.com/en" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/336712", "city_as_filed": "SAO PAULO", "url": "https://advisorcensus.com/firm/m-square-investimentos-ltda-sao-paulo-336712", "display_name": "M Square Investimentos Ltda.", "summary": "M Square Investimentos Ltda. is an SEC-registered investment advisory firm in Sao Paulo, Brazil, registered since 2025, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.", "citation": "AdvisorCensus. M Square Investimentos Ltda. (CRD 336712): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is M Square Investimentos Ltda. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), M Square Investimentos Ltda. reports these compensation arrangements: a percentage of assets under its management; performance-based fees." }, { "q": "How much does M Square Investimentos Ltda. charge?", "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.5% to 1.2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is M Square Investimentos Ltda. located?", "a": "M Square Investimentos Ltda.'s principal office is in Sao Paulo, Brazil, according to its Form ADV." }, { "q": "Is M Square Investimentos Ltda. registered with the SEC or a state?", "a": "M Square Investimentos Ltda. is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 336712." }, { "q": "How much does M Square Investimentos Ltda. manage?", "a": "M Square Investimentos Ltda. reports $2,251,538,613 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)." }, { "q": "What types of clients does M Square Investimentos Ltda. serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (25); corporations or other businesses not listed above (9)." }, { "q": "Which custodians does M Square Investimentos Ltda. use?", "a": "M Square Investimentos Ltda.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citco Bank and Trust Company Limited, Goldman Sachs & Co. LLC and JPMorgan Chase Bank, N.A. as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does M Square Investimentos Ltda. report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/336712" }, { "q": "What changed in M Square Investimentos Ltda.'s recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 10 to 5. Updated its list of owners and control persons (Schedule A)." } ], "filing_history": [], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 10 to 5.", "Updated its list of owners and control persons (Schedule A)." ] }, { "period": "2025-12-01", "period_label": "December 2025", "notes": [ "Newly registered with the SEC." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 31, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": "0.5% to 1.2% a year", "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.5% to 1.2% a year (a range, as the brochure states it)" ], "quotes": [ "Management fees for the Funds generally range from 0.5% to 1.2% and are deducted by the Firm each calendar month in advance, regardless of performance." ] } ], "values": { "tiers": [], "range_pct": [ 0.5, 1.2 ], "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Management fees for the Funds generally range from 0.5% to 1.2% and are deducted by the Firm each calendar month in advance, regardless of performance." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "Citco Bank and Trust Company Limited", "name_as_filed": "CITCO BANK AND TRUST COMPANY LIMITED", "affiliated": false }, { "name": "Goldman Sachs & Co. LLC", "name_as_filed": "GOLDMAN SACHS & CO. LLC", "affiliated": false }, { "name": "JPMorgan Chase Bank, N.A.", "name_as_filed": "JPMORGAN CHASE BANK, N.A.", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/m-square-investimentos-ltda-sao-paulo-336712.md", "clients": [ { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 25, "fewer_than_5": false, "raum": 1173556662.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 9, "fewer_than_5": false, "raum": 1077981951.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/336712", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }