Jive Distressed III
objective
The objective of Fund III is to achieve target returns close to 20% p.a. (net of fees) for its investors, through investments in various subclasses of Distressed assets. Among the main asset classes eligible for acquisition are: Corporate NPLs (non-performing loans), Corporate Single Names, Legal Claims, and distressed Real Estate, as well as any other alternative investment opportunities.
target audience
Professional investors¹.
investment policy
The resources may be allocated in: distressed assets, including portfolios and single-name defaulted credits, distressed real estate assets, legal claims, receivables, court-ordered debts (precatórios), and pre-court-ordered debts (pré-precatórios), as described in the Fund’s regulation.
The funds will be exclusively allocated to the following financial assets, in compliance with the limits established by Articles 5.2.3 and 5.2.5 of the Regulation, as applicable:
(i) quotas of Target Funds, which will have as target assets, directly or indirectly, Distressed Assets, Credit Assets, Opportunistic Assets, and/or New Thesis Assets, in accordance with applicable regulations;
(ii) quotas of Co-Investment Funds;
(iii) up to 20% (twenty percent) of the total capital subscribed by the Quota Holders, for the subscription of quotas, in assets traded or issued abroad, provided that, in any case and at any time, this percentage does not exceed the limit of 40% (forty percent) of its net equity, as per applicable regulations;
(iv) the Fund’s available cash resources may be invested exclusively in Other Assets.
characteristics
Fund
CSHG Jive Distressed Allocation III FIC FIM CP
CNPJ
35.819.274/0001-91
Manager
Jive Investments Gestão de Recursos e Consultoria S.A.
Administrator
MAF Dist. de Tít. e VM S.A.
Custodian
MAF Dist. de Tít. e VM S.A.
Distributor
MAF Dist. de Tít. e VM S.A.
Class
FIC FIM
ANBIMA Classification
Level 1 as "Multi-asset", Level 2 as 9/49 "Allocation", and Level 3 as "Dynamic"
Start date
09/2020
Fund term
6 years, counted from the date of the Fund's first subscription, extendable for up to two periods of 1 (one) year each
Investment period
Closed in 2023
Condominium
Closed-end fund
Minimum ticket
BRL 250,000.00 (two hundred and fifty thousand Brazilian reais)
Target return
20% p.a. (net for the investor)
Application quota
n/a
Redemption quota
n/a
Redemption settlement
n/a
Administration fee
2% per year on the Net Asset Value (NAV)
Performance fee
20% of the return exceeding 100% of the CDI
Fund size
BRL 3.5 billion
Net asset value and average net asset value over the last 12 months
As per the factsheet provided to investors
1. CVM Resolution No. 30/2021 defines qualified investors as: (i) professional investors, as defined by the same Resolution; (ii) individuals or legal entities with financial investments exceeding R$ 1 million who also certify in writing their status as a qualified investor through a specific term, in accordance with Annex B of this Resolution; (iii) individuals who have passed technical qualification exams or hold certifications approved by the CVM as requirements for the registration of independent investment agents, portfolio managers, securities analysts, and securities consultants, regarding their own resources; and (iv) investment clubs, provided that their portfolio is managed by one or more members who are qualified investors.
see also
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