gained prominence last week after surpassing Gustavo Kuerten, known as Guga, as the youngest Brazilian tennis player to play the main draw of a Grand Slam in the open era of the sport, which began in 1968. At 18 years old, his name became even better known in this Tuesday (14), when the young man, Andrey Rublev, at the Australian Open.
Despite being an athlete, Fonseca has a connection with the financial market. The link between him and the market is his father, Christiano Fonseca Filho, known as Crico.
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Like João, Crico stood out early on when he founded the first independent resource management company in Brazil, Professional Investortoday known as IP Capital Partners He was 24 years old when he joined Roberto Vinhaés in the successful venture.
IP was founded in 1988, but the CVM (Securities Commission) still did not recognize the role of independent manager, which forced the company to act as a consultancy and manage portfolios managed for clients. Just five years later, the house managed to launch its first fund, IP Participações, which invests in shares of Brazilian and foreign companies.
From the beginning of the Real Plan until December 2024, IP Participações accumulated a return of 24,254%. In the same period, the Ibovespa rose 3,220% and the CDI accumulated a profitability of 8,525%. In other words, R$100,000 invested in the fund in July 1994 would turn into more than R$24 million. In 2024, while the stock market fell 10.4%, the fund gained 5.1%.
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IP Value Hedge, a multimarket fund described by the manager as the house’s “most defensive option”, has accumulated a return of 830% since its inception in 2006, compared to a return of 484% for the CDI.
The strong philosophy of value investing made the Leblon company a trainer of great managers and stock analysts, highlights an XP report about the house. Among the professionals who founded their own assets after working at Fonseca Filho’s management are Bruno Levacov (Atmos Capital), Marcelo Magalhães (Tork Capital) and Pedro Chermont and Pedro Rudge (Leblon Equities).
Crico is, today, IP’s main partner, since the partnership with Vinhaés was dissolved in 2016, when the co-founders separated the structures of the manager in Brazil and IP Global, renamed, at the time, as Pipa Global Investments and today called Nextep Investimentos.
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The success of IP Capital Partners is linked to the rise of João Fonseca, as Christiano participates in managing his son’s career, with a constant presence at tournaments.
