OUR TEAM

Florian Bartunek is the founding partner and CIO of Constellation. Florian founded Constellation in 1998 as Utor Investments, a proprietary fund for the founders of 3G. Prior to founding Constellation, Florian was a partner at Banco Pactual where he was head of research, proprietary trader, and manager of all equity portfolios/funds including a segregated portfolio for George Soros. Florian earned a B.S. in Business at Pontificia Universidade Católica – PUC Rio (1990). He graduated from Harvard’s YPO President’s Program (2010 – 2021), Advanced Value Investing at Columbia Business School (2021), CEO Harvard Bussiness School Program (2021/23), Bruce Greenwald’s Value Investing Course (2013) at Columbia Business School, Disruptive Innovation (2020) at Harvard Business School, Singularity University Executive Program (2015), Sustainable Business Strategy at Harvard Business School and the Behavioral Finance program at Harvard Kennedy School (2016). Florian was a professor of a Value Investing course at INSPER University in São Paulo, president of the Paulista Chapter of YPO – Young Presidents Organization and Director of the International Department for the Brazilian Investment Banking Association – ANBID, predecessor to Anbima. Florian serves on the boards of Fundação Estudar, Fundação Lemann, Instituto PROA, B3 – Brazilian Stock Exchange, and Associação Nova Escola. He is member of the Israel Economic Forum and has also served on the boards of the Museum of Art of São Paulo – MASP, Somos Educação and Eleva Educação.

Eduardo Dumans is a partner and a member of Constellation’s Executive and Investment Committee. He joined the firm in August 2010 and currently focuses on the financial, transportation, oil & gas, and infrastructure sectors. Prior to joining Constellation, he spent three years as a risk analyst at Gávea Investimentos. Eduardo holds a B.A. in Production Engineering from Pontificia Universidade Católica – PUC Rio, is a CFA® charterholder (CFA Institute), and has earned Fundamentals of Sustainability Accounting® Certification (SASB, 2019), and the ANBIMA Fund Manager Certification (2020).

André Lima is a partner and a member of Constellation’s Executive and Investment Committee. He joined the company in October 2014 and is currently responsible for covering the e-commerce, technology, utilities, capital goods, pulp & paper, and metals & mining sectors. He holds a B.A. in Economics from FEA–USP.

Victor Furlan is a partner and a member of Constellation’s Executive and Investment Committee. He joined the company in 2017 and is currently responsible for covering the healthcare, fuel distribution, homebuilders and agribusiness sectors. Victor holds a B.A. in Economics from FEA–USP.

Nathan Sboarine is a partner and a member of Constellation’s Executive and Investment Committee. He joined the company in 2018 and is currently responsible for covering the retail, malls, and education sectors. Nathan holds a B.A. in Production Engineering from POLI-USP.

Sérgio Pinheiro is a partner and member of the Investment Committee. He joined the company in July 2021 and is currently one of the analysts responsible for covering the e-commerce, technology, pulp & paper, and metals & mining sectors. Before joining Constellation, Sérgio worked on the Investment Banking team of Rothschild & Co and the Emerging Markets investment team of Aberdeen Asset Management. He graduated with honors in Business Administration from FGV-SP.

Rodrigo Magdaleno joined the firm in March 2006 and became Partner and Head Trader two years later in 2009. Prior to joining Constellation, he worked for two years as a back office analyst at SLW broker dealer. Rodrigo holds a B.A. in Economics from PUC-SP and an Executive Master’s Degree in Finance from Insper-SP.

Helena Masullo is a Partner at Constellation Asset Management, where she leads the Investor Relations & ESG team. From 2020 to 2022, she served as Head of ESG Strategy at XP Inc. Previously, she was a Partner at Wright Capital Wealth Management. She is a lawyer, holding a Law degree from Fundação Getulio Vargas (FGV) in São Paulo, and has international experience at Oxford University, Université Paris-Sorbonne, and The Hague Academy of International Law. She holds the CFP and CFA-ESG certifications. She is a member of philanthropic organizations dedicated to social transformation.

Alex Rodrigues is COO, CRO and CCO of Constellation. He joined the company in 2005 and became Partner in 2007. Alex began his career in 1999, working in the back office of major banks, such as Banco Votorantim and JP Morgan. From 2002 to 2003, he served as Head of Back Office at a small asset management firm, and in 2004, he worked as a senior financial analyst at Banco J Safra. Alex holds a B.A. in Economics from PUC-SP and an MBA in Risk Management from FIPECAFI.