🇧🇷Brazil

Conflitos em Alocação de Co-investimentos sem Regras Claras

1 verified sources

Definition

Co-investments covered in 73% of LPAs, but lack of clear rules leads to manager discretion issues, conflicting with ILPA best practices and causing decision delays or lost opportunities.

Key Findings

  • Financial Impact: 1-3% reduced fund returns from allocation disputes; 10-30 hours/deal in LP meetings
  • Frequency: 73% of FIPs with co-investment clauses; higher in fully committed funds
  • Root Cause: Manual handling of co-investment offers without standardized allocation logic

Why This Matters

The Pitch: Private Equity funds in Brasil 🇧🇷 lose 1-3% returns due to co-investment allocation conflicts. Automation of opportunity tracking and pro-rata allocation eliminates disputes.

Affected Stakeholders

LPs, GP Managers, Investment Committees

Deep Analysis (Premium)

Financial Impact

Financial data and detailed analysis available with full access. Unlock to see exact figures, evidence sources, and actionable insights.

Unlock to reveal

Current Workarounds

Financial data and detailed analysis available with full access. Unlock to see exact figures, evidence sources, and actionable insights.

Unlock to reveal

Get Solutions for This Problem

Full report with actionable solutions

$99$39
  • Solutions for this specific pain
  • Solutions for all 15 industry pains
  • Where to find first clients
  • Pricing & launch costs
Get Solutions Report

Methodology & Sources

Data collected via OSINT from regulatory filings, industry audits, and verified case studies.

Evidence Sources:

Related Business Risks

Multas por Gun-Jumping no CADE em Co-investimentos

R$5-12% of transaction value per violation (typical CADE gun-jumping fines); 20-50 hours/month manual compliance per deal

Erros de Cálculo no Waterfall de Distribuições

R$200k - R$1M per fund in clawback escrow and legal fees; 20-30% of interim carry locked (e.g., R$500k on R$2M carry)

Multas por Erros Fiscais em Capital Calls

R$1.000 minimum fine per rejected NF-e (SEFAZ); R$10k-R$50k per SPED error; 2-3 technical notes/quarter increase risk

Clawbacks Não Executados em Waterfalls Americanos

20% carry overpayment (e.g., R$1M on R$5M fund); escrow locks 20-30% interim carry

Erro na classificação e tributação do carried interest em FIPs e FIEEs

Quantified (logic-based): risco típico de R$1–10 milhões por fundo em autuações potenciais ao longo da vida (IR, INSS, PIS/COFINS + multa de até 75% sobre tributo devido, conforme Lei 9.430/96) quando 10–20% do carried interest (R$10–50 milhões) é requalificado como serviço.

Perda de taxa de gestão e performance por erros de cálculo em fundos fechados

Quantified (logic-based): perda de R$300 mil a R$2 milhões por fundo em receita de taxa de gestão e performance ao longo do ciclo, derivada de erros de 0,1–0,5 p.p. na base ou alíquota aplicadas em 5–10% dos períodos de cálculo.

Request Deep Analysis

🇧🇷 Be first to access this market's intelligence