Performance and Capital Protection.

About Vista

Vista Capital was founded in 2014 with R$ 30 million under management and was built from the ground up through the resilience of its partners who are passionate about research and asset management.

The trust that we have generated has allowed us to grow to more than R$ 5 billion.

Our credibility has been earned through consistent performance, strict risk controls, and the complete alignment of interest between partners and clients.

We are confident that the combination of aligned investors, motivation and retention of the best human capital in the business, and strong governance will allow us to continue to deliver expressive results to our clients.

8+ years

of track record

R$ 4+ billion

of assets under management

31 professionals

including Portfolio Managers, Equity

Research Analysts, and Economists

Our Strategies

Vista Equities

Research strategy and equities portfolio management, with a focus in the Brazilian stock market.

Vista Macro

Research strategy and diverse-asset class portfolio management, including equities, commodities, fixed income and currencies, in the Brazilian and global markets.

Date: 02/29/2024

Vista EquitiesNAV% Day% MTD% YTD% 12M% 24M% 36M% Since Inception¹AuM (R$)AuM 12m (R$)AuM Strategy (R$)
Vista FIC FIA3,10908219-0,76%0,51%-5,42%11,95%-4,87%-16,58%210,91%172.047.312245.430.961195.378.017
Vista Long Biased FIC FIM1,74892826-0,44%0,78%-4,57%30,90%13,46%2,00%74,89%17.254.53515.795.60356.318.411
Vista MacroNAV% Day% MTD% YTD% 12M% 24M% 36M% Since Inception¹AuM (R$)AuM 12m (R$)AuM Strategy (R$)
Vista Hedge FIC FIM1,812571920,05%-3,84%-2,87%9,53%17,39%34,07%81,26%409.684.501589.675.1451.267.344.008
% CDI118%--75%63%98%153%
Vista Multiestratégia FIC FIM5,9787820,06%-8,25%-7,26%4,28%1,02%35,06%497,88%390.368.263479.821.4401.835.337.856
% CDI132%--34%4%101%415%
Benchmarks% Day% MTD% YTD% 12M% 24M% 36M
CDI0,04%0,80%1,78%12,74%27,40%34,59%Total AuM:-3.836.246.309
(1) Inception dates: Vista Multiestratégia FIC FIM: 01-30-2015 | Vista Hedge FIC FIM: 05-08-2018 | Vista FIC FIA: 12-30-2014 | Vista Long Biased FIC FIM: 10-26-2018


Head of Equities Strategy

João Eduardo Lopes

Lopes started his career in 2004 at Angra Partners as part of the investment team responsible for the exit strategy for the projects II-FIP in Santos Brasil, Brasil Telecom, and the subway project in Rio de Janeiro. In 2010, Lopes joined Leblon Equities as an Equity Research analyst. After returning from his MBA in 2014, he founded Vista Capital. B.A. in Economics from PUC/RJ and MBA in Finance and Real Estate from Wharton Business School.
Head of Macro Strategy

João Landau

Landau started his career in 2004 at AAA Asset Management. In 2005, he worked at BTG Pactual in the Backoffice and Equity Research area, focused on Oil & Gas. In 2008, Landau joined Paineiras Investimentos, where he became Partner and Macro Portfolio manager for 6 years until he left to found Vista Capital in 2014. B.A. in Economics from PUC/RJ.

Vítor Uchôa Nunes

Uchôa began his career in 2006 at BTG Pactual in the operations department. In 2016, he became a partner and COO at Leste, and in 2019, he founded Gavea Marketplace, acting as CEO until joining Vista Capital in 2024. M.Sc. in Economics from EPGE-FGV/RJ.

Persio Arida

Arida served as President of the Central Bank of Brazil in 1995, President of BNDES (Brazilian Development Bank) from 1993 to 1994, Director of the Banking Department at the Central Bank of Brazil in 1986, and Secretary of Economic and Social Coordination at the Ministry of Planning in 1985. Additionally, he was a director at Brasil Warrant and a member of the Board of Directors at Itaú. He also served as a director at Opportunity and held the positions of Chairman of the Board and CEO of Banco BTG Pactual from 2008 to 2017.

In his academic career, he was a professor at PUC-Rio from 1980 to 1984, USP (University of São Paulo) from 1979 to 1981, Princeton from 1978 to 1979, and Oxford. He was also a researcher at the Smithsonian Institute from 1984 to 1985. He holds a Bachelor's degree in Economics from the University of São Paulo (USP) and a Ph.D. in Economics from the Massachusetts Institute of Technology (MIT).

Chief Economist

Alexandre Maia

Maia started his career in 1999 at Unibanco Asset Management working in macroeconomic research. Between 2002 and 2014, he was Chief Economist and Partner at Gap Asset Management, the same position he later held at Kyros Investimentos from 2014 to 2015. Before joining Vista as Chief Economist, Maia was Senior Economist at Gávea Investimentos between 2015 and 2020. M.Sc. in Economics from EPGE-FGV/RJ.


Social Partnerships

This institution adhered to the ANBIMA code of Regulation and Best Practices for investment funds.

The information contained in this Website is provided for informational purposes only, and do not imply share distribution. Vista Capital does not sell or distribute share in investment funds or any other financial asset. Investment funds do not have the guarantee of the administrador, the portfolio manager, any insurance mechanism or, even, the credit guarantee fund – FGC. Past profitability is no guarantee of future profitability. To assess the performance of investment funds, an analysis of a period of at least 12 (twelve) months is recommended. Investors are advised to read the investment funds’ prospectus and regulations carefully when investing their funds. These funds use derivative strategies as an integral part of their investment policy; such strategies, as adopted, may result in significant equity losses for its shareholders, and may even result in losses greater than the capital invested and the consequent obligation of the shareholder to provide additional resources to cover the loss of the funds.