We are an independent financial advisor, free from conflicts of interest – which are typical of financial institutions – working in order to implement customized solutions in Project Finance, Corporate Finance, Concessions & Public-Private Partnerships and Mergers & Acquisitions. With long-term relationships among all key players in the market and access to the main mechanisms available for fund raising initiatives, we seek to assist our clients at every stage of each project.

Among our outstanding projects are the participation in the Rio de Janeiro VLT auction, in the financial advisory services of the winner PMI of the Pacaembu Stadium concession, in the structuring of long-term financing for the Aegea Saneamento company, in the financial advisory services for the Cagece (Veolia) auction and all airport concession rounds already held, among others.


BF Capital is an independent financial advisor with an outstanding and recognized performance in the Brazilian infrastructure sector. With R$ 17 billion in structured finance and participation in more than 250 projects, the company works with public and private companies and is present in initiatives in the sanitation, energy, transportation, social infrastructure, oil and gas and private investment sectors.


Our mission is to be the largest independent financial structurer of the infrastructure sector in Brazil, generating the best project feasibility solutions in various economy sectors.

Our mission is to advise our clients on the different stages of the financial structuring process using the best solutions for each project. We capture the best business opportunities for our partners by working on projects and unlocking investments in various sectors, contributing to the country’s economic growth.


With specialized technical knowledge, we want to provide on-demand solutions and services that exceed expectations and meet all project needs in different market segments, seeking to be our clients’ preferred partner in the financial structuring of operations and new business.


All our actions are based on ethics, transparency, honesty and solidarity, upholding the principles and institutional values of BF Capital, whatever the situation. Our team has the principle of absolute dedication to the customer, facing their problems and needs as a priority, with differentiated treatment and long-term loyalty.


Renato Sucupira

Adriana Marques

Ricardo Ramos

Renato Sucupira


Civil Engineering degree from UFRJ and MBA in Corporate Finance from FGV-RJ. He worked at BNDES between 1986 and 2004, having as main activity the Director position of the BNDES-Exim. For the past seven years, he has led an independent financial advisory firm, with operations totaling over R$ 17 billion in structured projects.

Adriana Marques


Chemical Engineering degree from UFRJ and MBA in Corporate Finance from IBMEC Rio de Janeiro. In recent years he has held executive positions in risk management and structured operations in investment banks. He also has experience in areas related to M&A advisory and investor relations.

Ricardo Ramos


Mechanical Engineer graduating from Universidade Gama Filho - UGF. Master in Business Administration, from COPPEAD-UFRJ and University of Lancaster- UK. BNDES executive from 1993 to 2021, acting as Superintendent in the areas of Credit and Social Infrastructure (sanitation, urban mobility, health and education), being responsible for managing a portfolio of approximately R$ 100 billion. As Director, he worked in the areas of Exports, Financial Onlending to Banks, Digital Transformation, Planning and HR, being responsible for a portfolio of approximately R$ 240 billion in financing. Extensive experience in Project Finance, PPP’s and direct financing to companies.


Roberto Senna

Civil Engineering degree from UFBA, MBA in Business Strategy from FGV and specializations from Wharton School (University of Philadelphia) and by the University of California, Irvine. He has been an Odebrecht Group executive for over 20 years and the CEO of Direcional Engenharia S.A. He is currently a partner at RS Partners and a board member of LLX Logística, Prumo Logística, Passeio São Carlos and Protendit.

Antonio Pizarro Manso

Mechanical Engineering degree from PUC-RJ and Executive MBA in Finance from IBMEC. He was the CFO of Embraer for 13 years and a member of the board of directors of Itapoá Portários, TAM S.A. and LM Wind Power do Brasil. He is currently a member of the board of directors of LATAM, Banco Caixa Geral Brasil S.A., Solví Participações and TAM Aviação Executiva S.A.

José Mauro Cunha

Mechanical Engineering degree from the Universidade Católica de Petrópolis and Executive Program in Management from the University of California, Los Angeles, USA. He was the CEO of Oi S.A. in 2013 and a member of the board of companies such as Vale S.A. He is currently Chairman of the Board of Directors of Oi S.A., Santo Antonio Energia S.A. and Pharol SGPS S.A.

Ney Prado Junior

Business Administration degree from Universidade da Cidade and OPM from Harvard Business School. He worked at Banco Bradesco, Universal DTVM and ROMA DTVM. He is currently a founding partner of the GULF group.













BF CAPITAL invests in education by supporting “Mão Amiga Brasil”, an institution that guarantees quality formal education to 589 low-income children and adolescents, from kindergarten through high school.

To know and participate in the project, visit: http://www.colegiomaoamiga.org.br