Madrona counsels on $41 million Brazilian fund-of-funds offering

What's the deal? Madrona Advogados acted as deal counsel on the structuring and public offering of MAG Ativos EstruturadosDealroom has a profile for this one. Try Dealroom →' new fund-of-funds, a transaction valued at US$53.7M (roughly $41 million). The MAG 5Y fund invests primarily in quotas of receivables investment funds (FIC FIDC).

Who's involved? MAG Ativos Estruturados served as investment manager. BTG Pactual Serviços FinanceirosDealroom has a profile for this one. Try Dealroom → acted as fiduciary administrator and lead underwriter, while EQI InvestimentosDealroom has a profile for this one. Try Dealroom → participated as special participant in the offering.

What's the endgame? The mandate covered the fund's formation and the structuring of the public offering of quotas for its first issuance. The Madrona team was led by partner André De Vita, alongside Camilla Paiva, Gabriel Leite, and Pedro Winther.

The signal: Receivables funds (FIDCs) remain a core vehicle for structured credit in Brazil, and fund-of-funds wrappers give investors diversified exposure across them. The deal underscores steady demand for these instruments in the local market.

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