Gávea Investimentos is an independent asset management company, based in Brazil and regulated by the Brazilian Central Bank and the Comissão de Valores Mobiliários (equivalent to the U.S. Securities and Exchange Commission in the United States).
The firm commenced operations in the 2nd quarter of 2003, launching its first two products in August 2003. Today, its activities are focused in three primary business areas:
Gávea had approximately 116 staff as of October 2010, with offices in Rio de Janeiro and São Paulo, Brazil. Asset under management approx. : US$ 6.11 billion as of October 2010.
Gávea's hedge fund with $2.6 billion of assets under management; a private equity business with three funds totalling $2.8 billion; and a wealth management business with $2.1 billion of assets under management. Gávea Investimentos is being sold to JPMorgan’s Highbridge Capital Management via a staged, five-year transfer of equity to J.P. Morgan Asset Management. A "well-placed source" told Brazilian daily newspaper Folha that Highbridge would pay about $1.5 billion (an initial $800 million payment for 55% of the equity this year, with the remainder being transferred over the next five years).[1]