Lemann-Backed Stock Picker Thrives in Brazil’s Chaotic Markets
- Constellation equity fund beats peers and defies Brazil gloom
- Asset manager is luring in new money at the fastest pace ever
Florian Bartunek
Source: ConstellationThis article is for subscribers only.
An asset manager backed by Stephen Mandel’s Lone Pine Capital LLC and billionaire Jorge Paulo Lemann is minting money in Brazil by successfully navigating one of the world’s worst stock markets -- and becoming a hit among investors.
Constellation Investimentos e Participacoes Ltda. is an equities-focused firm created more than two decades ago by Florian Bartunek, a 51-year-old stock picker who once helped manage Lemann’s personal fortune. Its flagship fund is bucking a slump in the local market, driven by investors’ concerns over the nation’s mounting fiscal woes while luring in new money at the fastest pace in its history, according to data compiled by Bloomberg.