ITQRU 1/2W
24 months
Trust $10.00 $200,000,000 or $230,000,000 if the underwriters’ over-allotment option is exercised in full
focus our search for a target located in Brazil
Citigroup ---------UBS Investment Bank
Cayman Islands
Our sponsor team is comprised of Paulo Carvalho de Gouvea and CH Global Capital, LLC (“CH Global Capital”), which is spearheaded by Marcus Leonardo Silberman, Pedro Chomnalez and Maria A. Herrera. Our management team has been working on deals together for nearly 15 years, with intervals, bringing extensive combined corporate finance, investing and operational experience, coupled with a deep local footprint and knowledge of Brazil and its business dynamics, as well as a strong global relationship network. Their combined experience includes having completed approximately 90 M&A transactions totaling over US$180 billion in value, more than 50 public offerings raising nearly US$30 billion and having had managerial roles across several start-up and mature companies.
Paulo Carvalho de Gouvea, our Chief Executive Officer and Chairman of our board of directors, is based in Brazil and has an extensive track-record in investing and managing companies in the country. During the past years, he has invested in, for, with or alongside important Brazilian companies, such as XP Inc., MMX, Eneva and Rede D’Or São Luiz. Before founding Itiquira Corp with CH Global Capital, Mr. de Gouvea co-founded Ygeia Capital in 2015, a private equity manager focused on healthcare opportunities in Brazil. Previously, from August 2011 to May 2015, Mr. de Gouvea was both a Senior Partner and a member of the board of directors at XP Investimentos (now XP Inc, NASDAQ: XP). XP Inc. was listed on Nasdaq in December 2019 at a US$14.9 billion valuation. During his tenure at XP Inc., Mr. de Gouvea headed the Investment Banking and Private Equity divisions of the firm. Prior to XP Inc., from September 1997 to January 2011, Mr. de Gouvea served in many financial and legal capacities, including Head of Corporate Finance at the EBX Group, at the time a leading natural resources, infrastructure and energy conglomerate in Brazil, where he was responsible for M&A, private equity, equity capital markets and investor relations. At the EBX Group, he was involved in a series of investments, including, co-founding and leading the initial public offering of MMX and Eneva (Bovespa: ENEV3, at the time named MPX) in Brazil in 2006 and 2007, respectively, and leading the sale of MMX’s main asset Iron X in 2008 to Anglo American. During his time at EBX, he was also a member of the board of directors of MMX, MPX and LLX, among others.
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Mr. de Gouvea’s recent investment experience includes:
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As a partner and investor of the Ygeia Capital group, the acquisition, by means of a series of investments of approximately 50% equity interest in Lorem Participações S.A., a Rede D’Or São Luiz S.A. (Bovespa: RDOR3.SA) controlled company, which is a B2B healthcare services provider, currently focused in hemotherapy and nuclear medicine solutions.
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The acquisition of approximately 56% equity interest in Primasea, a Brazilian life sciences company specialized in organic plant and animal nutrition.
CH Global Capital is a subsidiary of CH Global Holdings, LLC (“CH Holdings”), a New York based private investment firm, financial advisor and asset manager, owned by Pedro Chomnalez and Maria A. Herrera. In 2014, Mr. Chomnalez and Ms. Herrera established CH Global Capital Management, LLC (then known as CH EM Holdings, LLC, and, since 2017, a subsidiary of CH Holdings), primarily to manage the assets of a select group of ultra-high net worth families. In 2017, Mr. Chomnalez and Ms. Herrera established CH Global Capital, which provides strategic and financial advice, as well as consulting services, to business owners, entrepreneurs and investment firms. Marcus L. Silberman joined CH Global Capital as a partner in 2019, and, together with Mr. Chomnalez and Ms. Herrera established CH Global Capital Brazil Ltda, a corporate finance advisory and consulting firm based in Sao Paulo, Brazil.
Marcus L. Silberman, PhD, our Chief Financial Officer, is based in Brazil and has more than twenty-five years of experience in originating and executing M&A transactions, including local and cross-border divestitures, acquisitions, mergers and joint ventures, with a particular focus on Brazil. Prior to joining CH Global Capital in 2019, from September 2014 to March 2019, Mr. Silberman served as Co-Head of Latin America M&A at Bank of America Merrill Lynch, covering Brazil. Prior to that, he was Co-Head of Emerging Markets M&A and a member of the Global Advisory Investment Banking Committee of Credit Suisse AG (“Credit Suisse”) where he worked from January 1998 until June 2014. Throughout his career, Mr. Silberman developed an extensive network of Brazilian entrepreneurs, investors and bankers. He executed more than 50 closed deals totaling close to US$140 billion, the vast majority in Brazil. Marcus holds a PhD in Finance from the Marshall School of Business at the University of Southern California, an M.Sc. in Industrial Engineering from PUC-RJ and a B.Sc. in Industrial Engineering from UFRJ (Universidade Federal do Rio de Janeiro).
Pedro Chomnalez, our Co-Chief Investment Officer and member of our board of directors, has more than thirty years of investment banking, strategic advisory and direct investing experience. Mr. Chomnalez has forged close relationships with some prominent families throughout emerging markets, North America and Europe, as well as the top management of multinationals, sovereign wealth funds and institutional investors. Prior to founding CH Holdings in 2014, Mr. Chomnalez served in several leadership positions at Credit Suisse, a multinational investment bank and financial services company. In addition to his role as Head of Credit Suisse Latin America Investment Banking from 2004 to 2013, he was the Co-Head of the Credit Suisse Emerging Markets Council from 2010 to 2013. He was also a member of the Global Diversity Committee at the bank. Before running Credit Suisse’s Latin America Investment Banking, Mr. Chomnalez was responsible for the Latin America M&A Group at Credit Suisse between 2001 and 2004. Prior to that, Mr. Chomnalez served as a director of the Credit Suisse International Private Equity Fund making investments in Brazil, Argentina, Poland and the United Kingdom in the Technology, Consumer, Industrials and Media and Entertainment sectors.
Mr. Chomnalez serves or has served on the board of directors of several public and private companies as well as family foundations. More recently he was a member of the board of directors of Telecom Argentina (NYSE:TEO), and also a member of its audit committee. Mr. Chomnalez has an MBA from INSEAD, an MS in Economics and a BS in Econometrics from the Université Paris 2 Panthéon-Assas.
Maria A. Herrera, our Co-Chief Investment Officer and member of our board of directors, brings more than 15 years of experience in investment banking, investment advisory and principal investing. She is the Chief Investment Officer and Chief Compliance Officer of CH Global Capital Management, LLC. Since 2017, Ms. Herrera has also served on the advisory board of Princeville Capital, an investment firm focused on backing rapidly growing technology-related private companies around the world. Previously, Ms. Herrera worked for over a decade in investment banking, first at Lehman Brothers and later at Merrill Lynch, where she was a director in the Telecom & Media, and the Latin America Investment Banking Groups.