Salvo com sucesso!
Lazarus Partners
Lazarus Partners

We find life in assets others have left for dead

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Contrarian by
design

Just as individuals experience peaks and valleys, so too do companies. When a company is trading at its peak, seeming unstoppable, we believe this is the moment for heightened scrutiny. We delve deeper into the technology, business model, and macroeconomic factors — as sometimes optimistic assumptions fail to align with reality.

Conversely, when companies face hardship — borrowing heavily just to survive — it doesn't necessarily signal an asset to avoid. On the contrary, we often view this as the moment of peak attractiveness. The most ideal state is reached when the company has begun to "put its house in order" and starts the process of debt repayment.

In every situation, our mission remains consistent: to identify where the consensus has erred. Our name is Lazarus — we specialize in seeing dead companies rise again.

"The time to buy is when there's blood in the streets — even if the blood is your own."

Baron Rothschild — Our guiding principle

Performance

Monthly returns vs. benchmark

Cumulative Return
Accumulated since inception
Lazarus BRL
CDI
BRL — Brazilian Real
JanFebMarAprMayJun JulAugSepOctNovDec Acc.p.a.
Lazarus (2025) 2.74%...
CDI (2025) 1.06%...
Lazarus (2026) Loading data...
CDI (2026) ...
USD — US Dollar
JanFebMarAprMayJun JulAugSepOctNovDec Acc.p.a.
Lazarus (2025) 5.26%...
S&P 500 (2025) -0.76%...
Lazarus (2026) Loading data...
S&P 500 (2026) ...

Partners

Patrick Appel
Patrick Appel
CEO / Controlling Partner

"I've been investing since I was a young teenager with bar mitzvah money, later in life I find myself with my own investing team, people that want to hear what I think and a Wharton tuition to pay every year. I've come far, but that's just the beginning for me and for Lazarus Partners."

André Massa
André Massa
COO / Partner

"An Applied Mathematics with emphasis on economics undergraduate at UFRJ. Dedicated to applying structured problem-solving and analytical rigor to optimize operations at Lazarus Partners."

João Werberich
João P. Werberich
Partner

"'The best business in the world is a well-managed company; the second best is a poorly managed company.'

- Our job is simply to tell them apart."

Management Team

Gabriel Porto

Gabriel Porto

Head of Macro Desk

Maria Rolim

Maria Rolim

Head of Marketing