Private Equity 2025

BRAZIL Law and Practice Contributed by: Rafael Lacerda, Eric Nahum, Rômulo Martins and Fernando Oliveira, Lacerda Diniz Advogados

Lacerda Diniz Advogados is a full-service Brazilian law firm with a robust track record in private equity, corporate and M&A. With over 27 years of experi - ence, the firm has advised on more than 40 high-pro - file transactions in the past 12 months alone, involv - ing BRL23 billion in deal value. Its multidisciplinary team – composed of over 250 professionals across six offices – advises leading national and interna - tional clients throughout the investment life cycle: from deal structuring and regulatory strategies to tax

optimisation, governance and post-closing advisory. The firm combines legal precision with strategic in - sight, offering agile and business-driven solutions for private equity players operating in Brazil. Lacerda Diniz also leads in ESG and impact initiatives, being the first law firm globally to earn the Humanizadas B Certification. This commitment to ethical and sus - tainable value creation makes it a trusted partner for long-term investment strategies.

Authors

Rafael Lacerda is a founding partner of Lacerda Diniz Advogados, and has nearly 30 years of experience in corporate and M&A. Recognised for his expertise in wealth planning and corporate governance, Rafael leads

Rômulo Martins is a co-ordinating partner in the corporate area at

Lacerda Diniz Advogados, with over 15 years of experience in M&A, tax planning, governance and business structuring. He advises on high- impact reorganisations and capital markets matters, including the issuance of BRL120 million in debentures. A former Deloitte consultant, Rômulo holds degrees from FGV and Milton Campos, and is an MBA candidate at Fundação Dom Cabral. He serves on the board of a leading mining logistics company and has led governance programmes for agribusiness companies in frontier regions such as Mato Grosso.

complex restructurings, succession projects and strategic transactions. He holds MBAs in business management (FGV and Ohio University) and executive training (Fundação Dom Cabral). Beyond legal practice, he serves on the boards of major social institutions, including Instituto Galo and Crie o Impossível, reinforcing the firm’s commitment to impact-driven advocacy. Lacerda Diniz Advogados. Eric advises on complex transactions, governance and capital markets. He led the structuring of the firm’s capital markets practice and has represented the firm in Luxembourg, engaging with the Lux Stock Exchange. A recognised M&A lawyer in Minas Gerais, Eric is a professor at PUC Minas and founder of the M&A Clinic at Milton Campos Law School. He also serves on the advisory board of a major logistics group and frequently speaks at key corporate law events. Eric Nahum is a partner and head of the corporate and M&A practice at

Fernando Oliveira is a senior associate with over 15 years of experience in corporate, M&A and tax. He is specialised in business reorganisations, succession planning and corporate governance for family

groups. At Lacerda Diniz Advogados, he co-leads the implementation of governance tools for private and closely held companies. Fernando has broad experience in M&A transactions (buy-side and sell-side), legal due diligence, and negotiation of strategic contracts in highly regulated sectors.

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