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ASA Investments

About ASA Investments


Our Team

ASA Investments has a commitment to excellence in team constitution, considering its collaborators as its main asset.

Marcio Fontes

Head | Hedge Fund and Fixed Income

Marcio Fontes is an engineer from PUC RJ, and has an MBA from INSPER. In the 1990s he was head of fixed income at Banco Safra, and treasurer at Banco J.P. Morgan. In 2002 he founded Fiducia AM, later was officer at BNP Paribas AM, and senior partner at Mauá Sekular. At ASA Investments, he is responsible for the Hedge Fund and Fixed Income.

Ricardo Almeida


Graduated in Economic Sciences from PUC-RJ. Ricardo holds an Executive Master's Degree in Finance from IBMEC-SP. Additionally, he holds a master's degree in finance in the United States at the Carslon School of Management. Has 30 years of experience in the financial market, starting his career in 1991 at Banco Icatu. In 2015, he joined BRAM, responsible for equities funds, became CIO in July 2016 and CEO in March 2018. In 2021, he founded the asset manager Tower Three (T3) .At ASA Investments, manages the equities business.

Martim Fass

Head | Real Estate

Martim Fass holds a degree in administration from UFSC. He started his career in 1998 and since 2004 he has been dedicated to the real estate market. He was partner and head of real estate funds at Rio Bravo until 2010, later he spent 9 years at Safra Asset Management and, in 2020, he founded CORE Real Estate At ASA Investments he is responsabible for the real estate investment area.

Emerson Dantas

Head | ASA Distressed

Emerson Dantas is a lawyer, with a postgraduate degree in business management from FGV. With more than 20 years of experience in the areas of litigation and distressed asset management, he worked at Banco Safra and Recovery BTG Pactual. At ASA Investments, he is responsible for ASA Distressed, a credit rights investment fund focused on managing distressed assets.

Carlos Miguel Costa


The head of the ASA's credit fund has 35 years of market experience, 17 of them at Banco Safra, where he worked in the commercial and product areas, reaching the head of the Middle Market segment. With passages through BCN and Boston banks, Carlos Miguel has extensive knowledge and experience in the Middle Market segment, occupying leadership positions in these institutions.

Daniel Zagury Aizemberg

Head | ASA International

Daniel Zagury Aizemberg received his bachelor’s degree in engineering from UFRJ and his MBA in Finance from IBMEC. Daniel has more than 26 years of experience as a Macro Portfolio Manager, including 17 years as a Partner at BTG Pactual. At ASA Investments, he will serve as a Portfolio Manager and will be the executive responsible for ASA’s New York and Miami Offices.

Fabiano Zimmermann

Portfolio Manager | ASA Alpha

Fabiano Zimmermann holds a degree in Electrical Engineering and a MBA in Business Management from Federal University of Juiz de Fora - MG, as well as a Master's degree in Economics from Fundação Getúlio Vargas. During his 17 years in the market, he was Trader, Portfolio Manager and Chief Investment Officer at CAIXA DTVM. He was also Head of Fixed Income, Equities and Hedge Funds at BV Asset. Now, at ASA Investments, he is responsible for the Management of ASA Alpha.

Marcelo Nantes de Souza


Marcelo Nantes holds a degree in Aeronautical Mechanical Engineering from ITA – Instituto Tecnológico de Aeronáutica and an MBA from the University of Virginia – Darden School.Has CGA certification and has been working in the Capital Markets since 2006. He worked in the strategic planning and mergers and acquisitions area at Cargill Inc in Minneapolis, at Black River Asset Management, Ashmore Emerging Markets Management, Ventor Investimentos as an equities manager. In 2018, he joined BRAM and served as CIO. In 2021, he became one of the founders of Tower Three Asset Management. At ASA Investments, he manages equities products.



Kanczuk, former director of economic policy at the Brazilian Central Bank and former secretary of economic policy at the Brazilian Ministry of Finance, is the Head of Macroeconomic Research at ASA Investments. For the past 20 years Kanczuk has been a Professor of Macroeconomics at USP and was a post-doctoral researcher in Economics at Harvard University. He holds a degree in Engineering from ITA and a PHD in Economics from the University of California.

Ernesto Chayo

Head | Investor Relations

Ernesto Chayo holds a bachelor’s degree in business from Babson College. He was a member of the J.Safra Group, where he worked for three decades, starting his career in private banking. Chayo participated in the structuring of the personal banking segment at Banco Safra and was responsible for the entire investment area of that institution. At ASA Investments, is responsible for the Investor Relations area.

Operation in the
nacional and
internacional market

+27 distribution


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