What’s the largest Brazilian family office by AUM?

Jorge Paulo Lemann and his family are among the richest Brazilians, with a net worth of over $15 billion. A large part of the family’s capital is concentrated in the private equity holding 3G Capital. Our team decided to count 3G as a family office, with multiple billions of AUM; hence, we declare it the largest Brazilian family office. In addition, it manages the wealth of Marcel Telles, Carlos Sicupira, and Alex Behring. We estimate its AUM to be at least $10bn.

How does 3G Capital invest?

3G Capital invests using an owner-operator approach with a long-term horizon, typically acquiring controlling stakes in large, brand-driven businesses. It evolved from the Brazilian investment office of Lemann, Telles, and Sicupira and is now based in New York. The firm is known for its disciplined focus on operational efficiency, often employing cost-cutting techniques like zero-based budgeting. 3G has built a reputation through transformative deals, including the acquisition of Burger King in 2010, followed by its IPO and the creation of Restaurant Brands International through mergers with Tim Hortons, Popeyes, and Firehouse Subs. In partnership with Berkshire Hathaway, 3G orchestrated the $40 billion merger of Kraft and Heinz. Beyond food and beverages, it expanded into window coverings with the $7.1 billion acquisition of Hunter Douglas in 2022. Most recently, 3G made headlines with its bid to take Skechers private, offering $63 per share in a deal valuing the company significantly above the market price. Over the years, 3G’s investments have consistently focused on established consumer brands with potential for global scale, applying rigorous financial discipline and strategic repositioning to enhance value.

Alternative candidates for the Brazilian family office ranking by AUM

Since the decision of our familyofficehub.io team to declare 3G Capital as the largest Brazilian family office was not entirely certain, we also investigated alternative candidates. For instance, there is Eduardo Saverin, who is worth over $30bn. A large part of his net worth is invested in Saverin’s fund 3G Capital. However, the fund is in total only managing over $8bn and is also open to overseas external investors. For Vicky Safra, also worth over $20bn, there is no reliable information about a dedicated family office. Rather, the family wealth is concentrated at the J. Safra Group, which we do not see as a dedicated family office.

Picture Source: Fellipe Dittadi, Unsplash+ (05.05.2025)