Madrona Advogados > Sao Paulo, Brazil > Firm Profile

Madrona Advogados
SAO PAULO, CEP 01451 000

Brazil > Capital markets Tier 4

Madrona Advogados has a multidisciplinary capital markets team, whose lawyers have strong experience in key disciplines and industries, such as regulatory, real estate and infrastructure. Clients include a mix of issuers, underwriters and investors, and the firm is regularly involved in debentures issuances and the securitisation of receivables. Marcelo Cosac regularly represents banks and investment funds, while Nair Veras Saldanha typically represents issuers, including several state-owned companies, on transactional and regulatory issues. Leonardo Di Cola has a strong following in the investment fund community and is also experienced in securities litigation.

Practice head(s):

Marcelo Cosac; Nair Veras Saldanha; Leonardo Di Cola

Key clients

Valora Gestão de Investimentos

Jive Investments Consultoria

Banco de Investimento Credit Suisse (Brasil)

Helbor Empreendimentos

Optipar Participações

Banco Itaú BBA

M8 Partners

Casa de Pedra Securitizadora de Crédito

Habitasec Securitizadora

Aguassanta Participações

Nova Milano Investimentos

Nex Group Participações

Orbi Química

Agro Pratinha Indústria, Comércio, Importação e Exportação

Construtora São José Desenvolvimento Imobiliário

Mauá Capial

Hapvida Participações e Investimentos


Banco Bradesco BBI

BR Partners Banco de Investimento

Tecsoil Automação e Sistemas

JSL group

Spectra Investimentos

Anga Asset Management

Work highlights

  • Advised Ribeira Empreendimentos Imobiliários on the R$205m public offering of certificates of real estate receivables (CRI) issued by RB Capital Companhia de Securitização.
  • Acted as deal counsel in the R$47.5m public offering of CRIs issued by ISEC Securitizadora backed by bank notes issued by Capa Incorporadora Imobiliária Porto Alegre III SPE.
  • Advised Valora Gestão de Investimentos in the R$74.6m public offering of shares by Valora CRI Índice de Preço Fundo de Investimento Imobiliário – FII.

Brazil > Real estate Tier 4

Real estate developers and investment funds regularly turn to the team at Madrona Advogados for advice on residential, commercial and retail acquisitions and developments. This includes a variety of services, such as advice on sale and leaseback transactions, corporate joint ventures and fundraisings. Lead partner Eduardo Tristão has established a strong reputation, and also has expertise in rural acquisitions and sales.

Practice head(s):

Eduardo Tristão


‘Eduardo Tristão is a unique figure. A loyal, clear, and objective person who takes care of matters with a business-oriented look. He is well prepared and has a lot of tact in the treatment of different people.’

I strongly recommend the services provided by Giovana Malta, Felipe Lobo and Eduardo Tristão. Always very attentive and committed, they provide excellent service, seeking to meet the deadlines presented by us.’

Madrona has great expertise in Real Estate Law due to the excellent leadership of partner Eduardo Tristão, who conducts the works with extreme technique without neglecting simplicity when discussing the most diverse subjects. I would highlight Eduardo Tristão, Felipe Lobo and Laura Saadia.’

Key clients

RBR Asset Management

GLP Properties

RB Capital

Rio Bravo Investimentos

Cury Incorporadora

BENX Incorporadora

BTG Pactual

AGTI Empreendimentos

UV Gestora de Ativos Financeiros

Mercado Livre


Work highlights

  • Advised GLP Properties in acquiring a 100% stake from Grupo BIG in a company that owns two distribution centres.
  • Advised RBR Asset Management in an acquisition, as part of a consortium, of a 50% stake in a logistics asset to be built in Minas Gerais.
  • Advised Rio Bravo Investimentos – Distribuidora de Títulos e Valores Mobiliários on a sale and leaseback transaction of four urban real estate properties located in São Paulo.

Brazil > Corporate and M&A Tier 5

Madrona Advogados maintains a busy and buoyant corporate and M&A practice, which is regularly sought by its clients for representation on the buyer and seller side of relevant domestic and cross-border transactions. Recently, this has included a number of acquisitions in the healthcare, agribusiness and technology sectors, though its broad expertise also extends beyond these sectors. In addition to their corporate and M&A practices, Milena Coimbra Mazzini and Nair Veras Saldanha also chair the firm’s diversity committee, which aims to transform the firm’s practices to reduce social inequality regarding gender, age, disabilities and race into policies and actions. Pro bono is another relevant component of the firm’s work; for example, corporate and M&A partner José Luis Camargo and labour law expert Priscilla Caldeira Carbone have provided assistance to Associação Maria Helen Drexel, a non-profit that helps children and adolescents whose rights have been threatened or violated. Other key contacts in the corporate department include Ricardo Madrona, Luciana Renouard and Danilo Mininel. The department was strengthened further in August 2021 with the arrival of Luciana Felisbino from Martinelli Advogados.

Practice head(s):

Ricardo Madrona; José Luis Camargo; Milena Coimbra Mazzini; Danilo Mininel; Nair Saldanha; Luciana Renouard


Office with specialized services. Not yet large, but with comparable quality.’

Ricardo Madrona is excellent.’

Key clients

Merck Sharp & Dohme Farmacêutica



CI&T Software





Nazca Needish


Work highlights

  • Assisted Hapvida Participações e Investimentos in the acquisition of a controlling stake in Grupo São Jose, one of the main players in the supplementary health industry in the Vale do Paraíba region.
  • Advised Corpflex on the sale of controlling shares issued by Corpflex to Clarane.
  • Advised Embraer on the acquisition and subscription of shares issued by Tempest Serviços de Informática, specialised in cybersecurity.

Brazil > Public law Tier 5

Acting for clients across a variety of sectors, such as sanitation, social infrastructure, transport, healthcare and logistics, Madrona Advogados‘ service offering covers public law, infrastructure and regulatory matters. São Paulo-based partner Rosane Menezes Lohbauer, who has a solid background in M&A transactions, is predominantly engaged in the structuring of infrastructure projects through concessions and PPPs. Also in São Paulo, Rodrigo Machado is retained by companies operating in regulated sectors, namely power and natural gas, while Rodolfo Tamanaha is the name to note in Brasília for administrative proceedings and litigation before the superior courts.

Practice head(s):

Rosane Menezes Lohbauer; Rodrigo Machado; Rodolfo Tamanaha


‘I think Madrona Advogados is one of the main Public Law firms in Brazil, with great specialisation in the area of ​​infrastructure projects, especially in the modalities related to privatisation, Public-Private Partnerships and concessions. Armed with a very senior and qualified team, any serious player in the sector that wants to participate in infrastructure projects in Brazil should get to know and talk to Madrona Advogados.’

‘Rosane Menezes Lohbauer is certainly one of the main references in the country and abroad in the legal modeling of PPPs and concessions. Extremely committed, qualified and focused, she is an example to be followed internally in her office and externally by lawyers who want to work in the field of Public Law, especially in infrastructure projects.’

Key clients

IDB – Inter-American Development Bank

Vinci Partners


IFC – International Finance Corporation

RB Capital Asset Management

Lemam Construções e Comércio

Monte Partners

Conasa Infraestrutura


Parquetur Participações

Work highlights

  • Advised IFC and Caixa Econômica Federal (FEP) on the structuring, modeling and drafting of bidding documents and agreement of four street lighting PPPs.
  • Advised Parquetur Participações on the structuring of a fund to participate in the auction and incorporate a SPV as new concessionaire.
  • Provided legal advice to FIPE to provide assistance to the government of the state of São Paulo aiming at structuring and modeling a PPP agreement regarding three prison complexes.

Promoting an ethical environment in business and investing in training people are two of the great challenges of our time. With ever more advanced technologies, an increasingly integrated world requires that any organization stand for transparency, tolerance for diversity, and respect for differences, companies, and people. Madrona Advogados was launched with this spirit.

With a focus on corporate law, mergers and acquisitions, capital markets, financial law, and infrastructure, in addition to a strong performance in tax, real estate, civil litigation, and labor law, our motivation is to understand our time, invest in people, and work so that our clients reach their goals, always with ethics and responsibility.

With a team of more than 90 legal professionals with vast experience and also recommended by several national and international publications, the members of Madrona Advogados are aligned with the principles and objectives that we set out to achieve. We want to be among the most admired firms and seek to be a reference to our peers, associates, and employees. Our greatest challenge is to grow sustainably, focusing on our team’s high technical quality and ethical standards – providing our clients with excellent service is the outcome.

Mergers & Acquisitions, Corporate Law, Contracts, Mediation & Arbitration, Succession & Estate Planning Ricardo
Mergers & Acquisitions, Corporate Law, Contracts, Real Estate, Agribusiness, Corporate Governance, Succession & Estate Planning José Luis Camargo
Tax Consulting (Direct & Indirect Taxes), Tax Planning, International Taxation, Judicial & Administrative Tax Litigation Juliano Rotoli
Tax Consulting (Direct & Indirect Taxes), Tax Planning, International Taxation, Judicial & Administrative Tax Litigation, Succession and Estate Planning Igor Nascimento de
Infrastructure, Regulatory & Public Law, Energy, Project Finance, Environmental Law Rosane Menezes
Banking & Finance, Capital Markets, Securitization Marcelo Cosac
Mergers & Acquisitions, Corporate Law, Contracts, Compliance, Corporate Governance, Succession & Estate Planning Milena Coimbra
Mergers & Acquisitions, Corporate Law, Contracts, Competition & Antitrust, Corporate Governance, Succession & Estate Planning Danilo
Civil Litigation, Mediation & Arbitration, Credit Recovery, Bankruptcy & Reorganization, Succession & Estate Planning João Carlos
Banking and Financial Law. Capital Market, Investment Funds, Asset Management, Fintechs Leonardo Di Cola
Real Estate Eduardo Tristã
Capital Market, Mergers & Acquisitions, Corporate Governance Nair Veras
Mergers & Acquisitions, Corporate Law, Contracts, Intellectual Property, Succession & Estate Planning Luciana
Labour Priscilla
Infrastructure, Regulatory & Public Law, Energy, Project Finance Rodrigo
Civil Litigation, Mediation & Arbitration, Credit Recovery, Bankruptcy & Reorganization Luciano Velasque
Judicial and Administrative Tax Litigation, Direct Tax Consulting • International Taxation • Intellectual Rights, Technology and Internet • Infrastructure, Regulatory and Public Law, Governmental and Institutional Relations Rodolfo
Mergers & Acquisitions, Private Equity, Corporate Law, Contracts, Corporate Governance Luciana
Competition & Antitrust Luis
Arbitration, Mediation & Dispute Boards, Litigation, Construction and Infrastructure, Construction and Infrastructure, Reorganization, Bankruptcy & Credit Recovery (Asset Tracing) Fábio
Tax Consulting (Direct & Indirect Taxes), Tax Planning, International Taxation, Judicial & Administrative Tax Litigation, Succession and Estate Planning Marcelo
Judicial and Administrative Tax Litigation, Consulting on Indirect Taxes, Foreign Trade and Customs Taxation, Arbitration José Eduardo Tellini