Financial Advisory & Strategic Technology Investments
Where capital meets complexity.
Blackhill Capital operates at the intersection of the Brazilian judiciary and the capital markets — originating, structuring and monetising complex credit assets for qualified institutional capital.
- Independent Financial Advisory
- Advisor, never a party to the transaction.
- Distressed Credit & NPL
- Non-performing portfolios and stressed corporate exposures.
- Special Situations
- Court-ordered claims, judicial claims and structured credit.
- Senior-Led Execution
- Whoever assesses the transaction is the one who runs it.
Senior-LedTechnology-EnabledExecution-Focused
- Independent advisor
- We do not invest in the transactions we advise on.
- No third-party capital under management
- We are neither a regulated manager nor an investment fund.
- No seller–investor conflict
- Exclusive alignment with each client's mandate.
Two pillars
An advisory house, with a technology ecosystem alongside it.
Complex credit advisory is Blackhill's principal activity and holds the firm's technical depth. The technology ecosystem is a distinct strategic investment front, kept structurally separate from advised transactions.
Who runs it
Who runs your mandate.
The professional who assesses your transaction is the one who takes it through to closing. There is no intermediate layer between analysis and execution, and accountability for what was assessed is named.
Direct access to the person responsible
Neither first contact nor the mandate itself passes through screening layers. Whoever answers is whoever decides.
Continuity of judgement
Whoever analysed the asset is the one who negotiates — removing the loss of context between diligence and desk.
Named accountability
Every mandate has an identified principal, not a diffuse team across which accountability dissolves.
Pillar 01 — Blackhill Advisors
Three cores of authority. Seven specialised practice lines.
NPL & Distressed Credit, Structured Credit, FIDCs & Securities and Precatórios & Legal Claims carry equal standing and hold the platform's technical depth. The remaining lines exist as complementary capabilities that enable the transactions of those three cores.
Core authority
NPL & Distressed Credit
Non-performing portfolios and stressed corporate exposures, from granular retail to corporate.
View detailCore authority
Structured Credit, FIDCs & Securities
Receivables-backed investment vehicles — from receivables funds to securitisation.
View detailCore authority
Precatórios & Legal Claims
Final judicial claims against federal, state and municipal public entities.
View detailPillar 02 — Technology ecosystem
Technology applied to credit origination, decisioning and execution.
Three platforms addressing the structural constraints of the complex credit market: decisioning capacity, negotiation infrastructure and execution discipline.
01Credit decisioning engine
XCurve
A credit decisioning engine combining technology and artificial intelligence to structure credit analysis, classification and prioritisation at scale.
02Asset origination and negotiation
Finders
A platform for originating and negotiating NPL and complex credit assets, connecting selling organisations to acquiring organisations through a structured, auditable process.
03Pipeline and opportunity management
DealNorth
A multi-tenant SaaS platform for managing pipelines, next steps and priorities, built for a range of sectors — not restricted to credit markets.
Equity interests in technology companies are structurally distinct from the advisory practice. Blackhill does not invest its own capital in the credit transactions it advises on and does not act as a manager of third-party capital — the independence described under Independence & Governance remains fully applicable.
01Addressable market
A market of trillions of reais with credit infrastructure that remains underdeveloped.
R$ 6.5 tn
Brazilian financial system credit book
Total credit volume in the national financial system.
Sources: Central Bank of Brazil
R$ 524 bn
Registered defaulted debt
Accumulated default by individuals and companies.
Sources: Serasa Experian
R$ 393 bn
Court-ordered claims stock
Final judicial claims in the budgetary queue of public entities.
Sources: Federal Audit Court · Attorney General of the Treasury
R$ 6 bn+
Municipal active debt
Addressable market potential opened by Complementary Law 208/2024.
Sources: Recovery · Deloitte
Sector-level market data, with source and reference date stated. It does not represent transactions, pipeline or assets advised on by Blackhill Capital.
02How we work
Four phases. Technical rigour at every stage.
Every opportunity follows the same structured process, with independent legal and financial support at each phase.
- 01
Origination
Mapping through a proprietary institutional network, not dependent on public auctions or open databases.
Deliverable
Initial fit assessment — asset class, order of magnitude and feasibility of structuring.
- 02
Analysis & Due Diligence
Risk screening, document verification and legal-financial analysis, with an independent opinion where the asset requires one.
Deliverable
Technical memorandum with explicit assumptions, identified documentary gaps and points requiring an independent opinion.
- 03
Structuring & Negotiation
Vehicle modelling, design of security and contractual protections, through to closing.
Deliverable
Vehicle or assignment design, matrix of contractual protections, and conduct of the negotiation.
- 04
Monitoring
Post-closing follow-through, periodic reporting and strategy revision against the realised curve.
Deliverable
Periodic reporting comparing the realised against the projected curve, with strategy revision.
03Start here
Three paths, according to your role in the transaction.
I am an investor
Family office, fund, asset manager, bank or securitisation company seeking institutional access to complex credit assets.
I am a seller
Bank, company or public entity with a credit portfolio or asset to assign, requiring confidentiality.
I need restructuring
A company with complex liabilities that needs to reorganise its capital structure with independent advice.
Every conversation begins with confidentiality.
We do not publish transactions, sellers or investors. Institutional contact is the starting point — direct and discreet.