29 Oct 2025

"VBSO Advogados Advises Riza Asset Management on Successful Launch of BRL 408 Million FIAGRO Terrax Vintage Fund"

"VBSO Advogados provided legal counsel to Riza Asset Management for the establishment of the FIAGRO Terrax Vintage fund, which successfully raised BRL 408.6 million from various investors. The fund employs a sale-and-leaseback strategy, acquiring grain farms and leasing them back to the original producers, thereby enhancing their capital structure. The fund's returns will come from lease dividends and potential asset sales. XP Investimentos coordinated the fund's market distribution, with legal support from Cescon Barrieu."

In a recent transaction, VBSO Advogados acted as legal counsel to Riza Asset Management, while Cescon Barrieu provided legal counsel to XP Investimentos, the lead coordinator of the offering. The transaction involved the structuring of the FIAGRO Terrax Vintage, a fund that successfully raised BRL 408,627,100.00 from a diverse group of investors, including individual investors, legal entities, investment funds, and financial institutions. The FIAGRO Terrax Vintage employs a sale-and-leaseback strategy, allowing the fund to acquire grain farms and lease them back to the original producers, thereby enhancing the farmers' capital structure during a period of tight liquidity. The fund is designed to generate returns through fixed-rate assets, with distributions to unitholders coming from lease dividends and revenues from asset sales to third parties. The legal teams involved in this transaction included VBSO's partner José Alves Ribeiro Jr., along with lawyers Welson H. Lassali Rodrigues and Beatriz Junkes. From Cescon Barrieu, partner Vitor Arantes led the team, supported by associates Marcela Rivellino, Luisa Pereira, Juliana Serejo, and intern Beatriz Bueno.
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