Transforming Brazilian Football
D1A combines expertise in sports management and investments to professionalize and enhance assets in Brazilian football, generating sustainable returns for investors and positive impact for the ecosystem.
Get in TouchAbout Us
D1A Investimentos e Participações is a company focused on identifying and acquiring high-quality Brazilian football assets with substantial growth potential. Our mission is to bring a higher level of professionalization and profitability to the Brazilian football ecosystem, aligning incentives for all stakeholders.
Our differentiated model combines the focus of a Search Fund with the flexibility and operational capabilities of an Independent Sponsor, offering investors the potential to benefit from the appreciation driven by the growing professionalization of football in Brazil.
Mission
To bring a higher level of professionalization and profitability to the Brazilian football ecosystem, establishing a benchmark of excellence in the management of football properties in Brazil.
Vision
To be recognized as the leading investment company in football assets in Brazil, transforming the sector through the application of best management and governance practices.
Values
Operational excellence, transparency, alignment of interests, innovation, and commitment to the sustainable transformation of Brazilian football.
Business Model
D1A presents an innovative hybrid model that combines elements of a traditional Search Fund with the operational flexibility of an Independent Sponsor. This unique approach allows us to identify attractive investment opportunities in Brazilian football and implement value creation strategies that benefit all stakeholders.
Structured as a Search Fund
As a Search Fund, D1A applies a disciplined and structured approach to identify, evaluate, and acquire football assets with appreciation potential. We use rigorous selection criteria and due diligence processes to ensure quality investments.
Operated as an Independent Sponsor
As an Independent Sponsor, D1A has the flexibility and agility needed to implement value creation strategies, improve governance, and professionalize the management of acquired assets, maximizing their growth and profitability potential.
Investment Thesis
Focused Investment Approach
Concentration on Brazilian football, an underexplored market with significant growth potential. We focus on assets that can benefit from professional management and strategic investments.
Hybrid Investment Model
Structured as a Search Fund, operated as an Independent Sponsor, providing both the governance rigor of a search fund and the agility of independent sponsorship.
Experienced Leadership
Led by professionals with a unique combination of expertise in sports management and investment experience, positioning D1A to identify and maximize opportunities in the Brazilian football market.
Strategic Value Creation
Leveraging best practices in club operations, stadium management, and sports rights commercialization to create value, transforming clubs and facilities through the implementation of professional management.
Market Opportunity
The Brazilian football ecosystem is currently undergoing significant transformation, with opportunities to professionalize and consolidate underperforming assets. The increase in league structuring efforts and growing interest from international investors present a unique opportunity to acquire assets at favorable valuations and unlock significant value.
The recent SAF law and other favorable regulatory changes in Brazil make the football sector more transparent and attractive for institutional investment, reducing entry barriers and creating a path to acquire, professionalize, and grow football-related assets.
Source: CBF, public data. Figures are approximate.
Key Market Points
Underexplored Market
Brazilian football represents an underexplored market with significant growth and professionalization potential.
Regulatory Changes
Recent regulatory changes, including the SAF law, have created a more favorable environment for investments in Brazilian football clubs.
Valuation Opportunity
Current market conditions offer the opportunity to acquire quality assets at attractive valuations compared to more mature markets.
Executive Team
Renato Loes
Managing DirectorRenato Loes brings over 15 years of experience working with international funds. Renato has served as a Director at Hudson Advisors, overseeing asset management for Lone Star Funds, and has held C-Level roles in various Brazilian portfolio companies of North American private equity funds. Additionally, Renato worked as a Portfolio Manager at PIMCO and held managerial positions at Itaú Unibanco. He holds a Bachelor's degree in Computer Science from UNICAMP, an MBA from the University of Chicago Booth School of Business, and an Executive MBA in Sports Management from the Real Madrid Graduate School.
Armênio Neto
Managing DirectorArmênio Neto has over 20 years of experience in the sports industry, having served as the Business and Marketing Director at Santos FC (2010-2013, returning in 2024-2025) and as the head of MediaCom Sport Latam (WPP Group). He has been instrumental in driving commercial growth and creating strategic partnerships, including collaborations with high-profile figures such as Neymar Jr and Pelé, leveraging his deep network within the Brazilian sports ecosystem. He holds a Bachelor's degree in Social Communication and Advertising from UNISANTOS, and an Executive MBA in Sports Management from the Real Madrid Graduate School.
Investment Process
Opportunity Identification
Preliminary Analysis
Due Diligence
Value Creation Plan
Systematic search for football assets with growth potential, using our proprietary network and market intelligence.
Initial evaluation of the opportunity, including market analysis, competitive positioning, and growth potential.
Comprehensive analysis of financial, operational, legal, and commercial aspects of the target asset.
Development of a detailed strategy to enhance the value of the asset through operational improvements and strategic initiatives.
Active Pipeline
D1A is currently engaged in multiple opportunities across the Brazilian football ecosystem.
Série A Club
Série A Club
Traditional São Paulo Club
Interested in our pipeline?
Get in TouchFrequently Asked Questions
A SAF is a corporate structure introduced by Brazilian law (Lei 14.193/2021) that allows football clubs to spin off their football operations into a separate company. This enables clubs to receive private investment, adopt professional governance standards, and operate with greater financial transparency — similar to how football clubs in Europe have been structured for decades.
A Search Fund is an investment vehicle where an entrepreneur raises capital to systematically identify, acquire, and manage a single company. D1A adapts this model for Brazilian football, combining the disciplined search and due diligence process of a Search Fund with the deal-by-deal flexibility of an Independent Sponsor. This allows D1A to structure each transaction according to the specific dynamics of the target asset, while maintaining the rigor and alignment of interests that institutional investors expect.
D1A focuses on Brazilian football clubs and related assets with strong fundamentals but untapped growth potential — typically clubs that can benefit significantly from professional management, improved governance, and strategic investment. D1A evaluates opportunities across multiple divisions, prioritizing assets where operational improvements and the SAF framework can unlock substantial value.
D1A is led by Renato Loes and Armênio Neto. Renato brings over 15 years of experience in international fund management, including roles at Hudson Advisors (Lone Star Funds), PIMCO, and Itaú Unibanco, with an MBA from the University of Chicago Booth. Armênio brings over 20 years in the sports industry, including directorships at Santos FC and MediaCom Sport Latam (WPP Group). Both hold Executive MBAs in Sports Management from the Real Madrid Graduate School.
D1A acts as a strategic partner throughout the entire SAF process — from feasibility studies and transaction structuring to sourcing qualified investors and supporting governance implementation post-closing. D1A works alongside the club's leadership to ensure alignment between the club's sporting identity and the investors' return expectations.
Clubs gain access to institutional capital, professional management practices, and a structured governance framework — without losing their sporting identity. D1A's hybrid model ensures that each deal is tailored to the club's specific needs, and our partnership with operational specialists provides hands-on expertise in sports management, event operations, and commercial development.
No. The SAF structure separates the business operations from the social club (associação), which retains its brand, history, and community role. D1A's approach specifically prioritizes preserving the club's identity and fan base as core assets, while professionalizing the financial and operational management.
Use the contact form below or reach out directly at renato@d1a.com.br. D1A engages with qualified investors, strategic partners, and clubs exploring the SAF framework on a confidential basis.
Contact Us
renato@d1a.com.br
armenio@d1a.com.br
Phone
+55 (11) 99472-0785
+55 (11) 99902-2220
Address
Alameda Santos 1165, conjunto 808 - São Paulo/SP - Brasil