Advisory
Exclusive mandates in M&A, capital structuring and asset repositioning. Buy-side and sell-side.
- M&A transaction advisory
- Capital structuring
- Asset repositioning
Advisory · Club Deals · Co-Investment
Baltas Capital
Where Institutional Capital Meets Frontier Innovation
São Paulo · London · Global
- USD 10Bn+
- Transaction exposure
- 10+
- Countries
- 20+
- Years of experience
- 8
- Major transactions
What we do
Three mandates, one standard
Club Deals
We anchor co-investment opportunities for qualified family offices, institutional investors and strategic partners.
- Co-investment structuring
- Family office partnerships
- Deal anchoring
Equity Stakes
When conviction is high, we take positions alongside our clients. Aligned interests. No ambiguity.
- Direct equity investment
- Performance-aligned stakes
- Strategic co-investment
Founder background
20+ years across capital markets, boards and frontier ventures
- 01
INSEAD MBA '04J — Fontainebleau & Singapore
One of the world's top-ranked business schools. Alumni network of 60,000+ in 175 countries.
- 02
Ranking de Analistas IBMEC / Agência Estado — 1990s
Ranked among Brazil's top equity analysts for consecutive years based on portfolio performance.
- 03
ArcelorMittal — IR Team #1 global (Institutional Investor, Metals & Mining)
Part of the ArcelorMittal IR team ranked #1 globally in the metals & mining sector.
- 04
Board Member: Escada AG (Luxury, Frankfurt) · London Mining plc (London)
Active board participation in luxury fashion and mining sectors.
- 05
Deals executed: USD 10Bn+ across 10+ countries
Acindar Argentina: USD 542M | ArcelorMittal Brasil Delisting: USD 1.8Bn.
- 06
CFO ADIT Brasil — 3 consecutive mandates, elected by sector peers
During his terms, multiplied revenues by 4.1x and the cash position by 10.8x.
- 07
Co-Founder Turistech Hub
The largest tourism technology hub in Latin America.
- 08
Founder & Chairman Audaar — Techospitality platform
Technology platform at the intersection of hospitality and software.
- 09
2nd place — Brazilian Tourism Innovation Challenge, UN / Ministry of Tourism 2020
Top 10 out of approximately 800 startups.
- 10
Publications at INSEAD Knowledge + FT
Co-author of the "Speed, Power & Flow" framework.
- 11
Lectures: INSEAD · Université de Lyon
Negotiations & Investor Relations.
“Expertise is not a cost. It is the ultimate multiplier.”
Transaction track record
8 major transactions
USD 10Bn+ exposure · 10+ countries · Multiple sectors
Arcelor–Mittal Merger
Global · 2006 · Global M&A
Transaction support in the historic cross-border mega-merger that created the world's largest steel manufacturing corporation.
Role: Transaction Support
ArcelorMittal Brasil
Brazil · Delisting & Buyout
Major minority buyout and strategic delisting transaction executed on the Brazilian Stock Exchange.
Role: Transaction Leader
Acindar Argentina
Argentina · Minority Buyout
Acquisition of Acindar's minority shareholders in Argentina — strategic minority acquisition.
Role: Transaction Support / IR
Structured Debt
Brazil · Real Estate Finance
Complex origination and structuring of debt instruments for major real estate development projects.
Role: Lead Structurer
Raiserfund
Brazil · Development & Exit
Pioneering development, regulatory authorization and successful exit of Brazil's first CVM-regulated real estate crowdfunding platform.
Role: Founder & Structurer
Escada AG
Germany · Acquisition Advisory
Strategic advisory during the luxury fashion house's insolvency restructuring and acquisition by the Mittal Family.
Role: Transaction Leader & Board Member
London Mining plc
United Kingdom · Listed Company
Acquisition and high-level board oversight of international mining operations, strategic assets and governance for an LSE-listed company.
Role: Transaction Leader & Board Member
Bukly
Brazil–Italy · Hospitality Tech
Acquisition of the controlling position in Bukly — strategic acquisition of a hospitality technology platform.
Role: Transaction Leader
Total estimated exposure of USD 10Bn+ across transactions in Argentina, Brazil, UK, Germany, Luxembourg and beyond.
Baltas philosophy
4 core pillars · 2 focus areas
Strategic approach to value creation through disciplined investment principles.
Governance
Solid structures, compliance and aligned incentives for sustainable operations.
Credibility
Proven track record, transparency and long-term relationships.
Long-term Focus
Value compounding, capital discipline and strategic patience.
Value Creation
Operational, financial and strategic value drivers.
Technology Focus
- Hospitality & Real Estate Tech: AI-powered solutions for automation, pricing, distribution and analytics
- Key areas: property management systems, revenue optimization, guest experience
- Value driver: technology-enabled efficiency and enhanced user experience
Real Estate Focus
- Value generation: development, retrofit and repositioning opportunities
- Luxury segment: premium properties and high-end hospitality assets
- Strategy: selective investments with strong value-add potential
Our investment philosophy is built on disciplined capital allocation and sustainable value creation.
Active mandates
Buy-Side · Sell-Side · Equity Partnerships
Baltas Capital holds active mandates across hospitality, real estate and technology in Brazil and internationally. Our mandate pipeline includes properties seeking equity investors, real estate projects under development available for sale or co-investment, and buy/sell-side advisory in the hospitality, real estate and technology sectors.
Type: Equity partnerships + Advisory
- Acquisitions of premium hospitality properties
- Urban development & retrofits
- Leisure clubs business development
- Techospitality representation
- Development & retrofit
Selective co-investment opportunities available for qualified investors · NDA required.
Contact
Let's discuss your mandate
Reach out directly for advisory mandates, club deals and co-investment opportunities.
Rony Stefano Bendinelli
Founder & Managing Partner — Baltas Capital
- rony@audaar.com.br
- linkedin.com/in/ronystefano
- São Paulo · London · Global