Andre Laport, a prominent Brazil money manager, has stepped down from Vinland Capital, the hedge fund he co-founded, for personal reasons, leaving control to fellow Co-Founder James Oliveira, according to a report by Bloomberg.

Laport's decision to leave the firm was driven by his desire to live outside of Brazil. According to a statement from Vinland on Monday, the transition has been amicable. As of July, the fund managed around 9.7 billion reais ($1.75 billion) across hedge, pension, equity, and fixed-income funds, according to Anbima, Brazil’s capital-markets association.

"There will be no changes to the manager’s strategies, products, or teams," according to the statement, with Oliveira taking over the equity team and becoming the controlling partner.

Laport, the first Brazilian to become a partner at Goldman Sachs, co-founded Vinland with Oliveira, who was previously a controlling partner at Banco BTG Pactual SA, in 2018. In 2021, the firm received a capital infusion from Rising Star, a fund created by Itau Unibanco Holding SA to support promising companies.

Vinland’s flagship fund, the Vinland Macro Master FIM, has delivered a 1.57% return this year and 5.29% over the past 12 months, according to Bloomberg data.