Brazil

BRL 135 million transaction expands TRXF11’s exposure to urban logistics, last-mile warehousing, and self-storage assets; acquisition was led by partners Livia Siviero and Patrícia Braga KLA advised TRX Real Estate Investment Fund (TRXF11), through its manager and administrator, on the indirect acquisition of a real estate portfolio valued at BRL 135 million. The transaction was structured through the acquisition of all shares in special purpose entities (SPEs) that own eight properties located in Brasília (DF), Rio de Janeiro (RJ), Belo Horizonte (MG), and Ribeirão Preto (SP).   The transaction was structured with a “person to be designated” clause, allowing for the appointment of a new real estate investment fund to complete the indirect acquisition of the assets. The properties will become part of Brio Renda Imobiliária – FII, a vehicle that marks Brio Investimentos’ entry into the urban logistics and self-storage segments. The assets will be managed by Brio Investimentos and operated by Urban Properties under the Guarde Aqui brand.   The transaction is aligned with TRXF11’s strategy of expanding its presence in the urban logistics, last-mile warehousing, and self-storage sectors, which are being driven by the growth of e-commerce, the reorganization of distribution chains, and changing occupancy patterns in major urban centers. Following the completion of the transaction, the fund will hold, directly and indirectly, 121 properties across 17 Brazilian states and the Federal District, totaling approximately 1.24 million square meters of gross leasable area and more than BRL 7.49 billion invested in real estate assets.   On behalf of KLA, the transaction was handled by the Corporate, Capital Markets, and Real Estate teams, led by partners Livia Siviero (Capital Markets and Real Estate) and Patrícia Braga (Corporate Law). The deal also involved associates Hebert Oliveira and Christian Taeger (Corporate Law), Valnan Claret (Capital Markets), and Camila Farinha (Real Estate).   Daló Tognotti Advogados represented the counterparty, with attorneys Luiz Paulo Lago Daló, Juliana Felske, and Paola Rodriguez.

Round strengthens Vixtra’s position as a trade finance platform and the “bank for importers” in Brazil. KLA advised Vixtra in its approximately US$8.5 million (around BRL 45 million) Series A funding round, led by Valor Capital, with participation from NXTP, Actyus, Headline, Collier Fund, and Simma Fintech. Founded in 2021, Vixtra has established itself as one of the leading trade finance platforms serving small and medium-sized importers in Brazil, positioning itself as a true “bank for importers.” The company offers an integrated solution that combines specialized credit, foreign exchange services, supplier data, logistics, and end-to-end visibility across import operations. Its model enables businesses to use goods in transit as collateral, expanding access to working capital in a segment that has historically been underserved by traditional financial institutions. The funds raised will be used to expand Vixtra’s credit lines and further develop its platform, including the launch of new products such as insurance solutions, FX hedging, and the integration of stablecoin-based infrastructure for foreign exchange and financing operations. On KLA’s side, the transaction was led by partner Francisco Alverne, from the Corporate and M&A team, with the participation of associates Rodrigo Candido and Letícia Grilo. The platform was also advised by Gunderson Dettmer, with attorneys Adan C. Muller, Stefania Gomes Toschi, and Carolina Zanolo.

FIUS Advogados advised the sellers of Grupo VSOL — comprising VSOL Análises Ambientais, Laboratório Vapor Solutions and Econsulting Projetos e Consultoria Ambiental — on the sale of 100% of their equity interests to AmSpec Group, a global provider of testing, inspection and certification services. The acquisition represents one of the most significant investments in the environmental analysis sector in Latin America and reinforces AmSpec's expansion strategy in the region. By combining Grupo VSOL's well-established market position, technical expertise and experienced professionals with AmSpec's global platform, the transaction strengthens the buyer's presence in a rapidly growing market. FIUS represented multiple selling groups throughout the transaction, coordinating different stakeholders and aligning distinct commercial interests to ensure a unified negotiation strategy. The firm's work included supporting the sellers during the due diligence process, negotiating and drafting the transaction documents, coordinating legal and financial advisers, and managing the execution timetable to deliver a smooth and efficient closing. The matter required the coordination of multiple parties, different seller profiles and a complex transaction timeline. FIUS's multidisciplinary approach, bringing together M&A, corporate and tax specialists, enabled the team to provide strategic advice, technical excellence and predictability throughout every stage of the transaction. The transaction was led by M&A partner Andrea Ometto Bittar Tincani, with the support of Pedro Goulart Cheng, Júlia Cristina de Arruda Savioli, Jéssica Nader and Julio Cesar Costa Fonseca Valente de Lima.

The attorney at law returns to the firm to join the partnership, strengthening the firm’s intellectual property and strategic litigation practice Licks Attorneys announces the return of Gabriel Keller to the firm, now as a partner. With a career built on complex intellectual property disputes, Keller strengthens the firm’s team by combining a solid academic background, experience in strategic litigation, and his practice before higher courts. A Bachelor of Laws of the Rio de Janeiro State University (UERJ), Keller holds a specialization in Intellectual Property from the Center for International Intellectual Property Studies (CEIPI) in Strasbourg and a Certificate of Political Studies from Sciences Po Lyon, both in France. In 2023, he earned his Master’s in Business Law at UERJ, with research focused on patent law. Keller’s history with Licks Attorneys began in 2017 as an intern. Between 2019 and 2024, he served as an attorney at law at the firm, focusing his practice on highly complex litigation involving patent infringement and invalidity, as well as disputes related to industrial designs, trademarks, and unfair competition. Throughout his career, he also served as an advisor to the Vice-Presidency of the Federal Court of Appeals for the 2nd Circuit (TRF-2), assisting in the analysis of appeals to the Superior Court of Justice (STJ) and Brazil’s Supreme Court (STF). With his appointment to the partnership, Gabriel Keller strengthens Licks Attorneys’ capacity to handle strategic intellectual property disputes and cases of high technical complexity, reinforcing the firm’s commitment to talent development and excellence in legal services.