# Squadra Investments - Gestao de Recursos Ltda.

> Squadra Investments - Gestao de Recursos Ltda. is an SEC-registered investment advisory firm in Rio de Janeiro, Brazil, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.

- CRD: 160366
- Filed as: SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rio de Janeiro, Brazil
- Filing period: October 2026
- Form ADV filing dated: March 31, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/160366
- AdvisorCensus page: https://advisorcensus.com/firm/squadra-investments-gestao-de-recursos-ltda-rio-de-janeiro-160366

## Quick answers

**How is Squadra Investments - Gestao de Recursos Ltda. compensated?**
On its Form ADV (Item 5.E, October 2026), Squadra Investments - Gestao de Recursos Ltda. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Squadra Investments - Gestao de Recursos Ltda. located?**
Squadra Investments - Gestao de Recursos Ltda.'s principal office is in Rio de Janeiro, Brazil, according to its Form ADV.

**Is Squadra Investments - Gestao de Recursos Ltda. registered with the SEC or a state?**
Squadra Investments - Gestao de Recursos Ltda. is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 160366.

**How much does Squadra Investments - Gestao de Recursos Ltda. manage?**
Squadra Investments - Gestao de Recursos Ltda. reports $2,081,656,000 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary).

**How have Squadra Investments - Gestao de Recursos Ltda.'s assets and staff changed since 2021?**
In the Form ADV data for Squadra Investments - Gestao de Recursos Ltda.: Regulatory assets under management: $1,751,605,083 in the October 2021 data and $2,081,656,000 in the October 2026 data, up 19%. Total employees: 25 in October 2021 and 27 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Squadra Investments - Gestao de Recursos Ltda. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7); sovereign wealth funds and foreign official institutions (1); other (1).

**Which custodians does Squadra Investments - Gestao de Recursos Ltda. use?**
Squadra Investments - Gestao de Recursos Ltda.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon and Citi as custodians holding 10% or more of its separately managed account assets.

**Does Squadra Investments - Gestao de Recursos Ltda. report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160366

**What changed in Squadra Investments - Gestao de Recursos Ltda.'s recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,412,824,652 to $2,081,656,000 (+47%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon
- Citi

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.

### Regulatory assets under management (Item 5.F)
- Total: $2,081,656,000
- Discretionary: $2,081,656,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $1,504,760,000 |
| Sovereign wealth funds and foreign official institutions | 1 | $425,356,000 |
| Other | 1 | $151,540,000 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2012 (14 years)
- Employees: 27 total, 23 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/160366

### Websites listed on Form ADV (Item 1.I)
- [squadrainvestments.com](https://squadrainvestments.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,751,605,083 | 25 | March 30, 2021 |
| October 2022 | $1,428,925,302 | 28 | March 30, 2022 |
| October 2023 | $1,624,303,975 | 26 | March 31, 2023 |
| October 2024 | $2,309,248,543 | 26 | March 27, 2024 |
| October 2025 | $1,412,824,652 | 28 | March 31, 2025 |
| October 2026 | $2,081,656,000 | 27 | March 31, 2026 |

Regulatory assets under management: $1,751,605,083 in the October 2021 data and $2,081,656,000 in the October 2026 data, up 19%.
Total employees: 25 in October 2021 and 27 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,412,824,652 to $2,081,656,000 (+47%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Squadra Investments - Gestao de Recursos Ltda. (CRD 160366): Form ADV filing data as of October 2026.