Carlos Bernardo Goncalves is a leading authority in business valuation and a trusted advisor to legal teams and to the business lawyer in Brazil. As Managing Partner of CBG Valuation Services, he combines more than two decades of transaction and corporate finance experience with internationally recognised valuation credentials. His practice sits at the intersection of finance, accounting and law, delivering independent, technically robust valuation opinions that support M&A, regulatory filings, tax compliance, dispute resolution and financial reporting under Brazilian and international standards. Carlos Bernardo Goncalves is known for translating complex financial concepts into clear results for boards, committees and regulators alike. His leadership ensures rigorous methodologies and transparent reporting across cross-border engagements.
Carlos holds a BSc in Economics from IBMEC and postgraduate qualifications in Corporate Finance from London Business School and in Business Administration from the University of Manchester. He is a Member of the Royal Institution of Chartered Surveyors (MRICS) via the Senior Professional Assessment in the Valuation of Businesses & Intangible Assets pathway, qualifying him to sign valuations under the RICS Red Book Global. He has more than 20 years of experience in M&A, structured finance and corporate finance advisory, including nine years leading a Corporate Finance practice at a global consulting firm prior to founding CBG Valuation Services. Carlos Bernardo Goncalves’ professional memberships and leadership roles include positions with Brazilian business and finance organisations and international valuation bodies. He regularly collaborates with counsel, auditors, boards, independent committees and regulators, reinforcing his status as a specialist adviser.
At CBG Valuation Services, Carlos leads engagements across a full spectrum of valuation work, including business valuation, intangible asset valuation, purchase price allocation (CPC 15 / IFRS 3), impairment testing (CPC 01 / IAS 36), fair-value measurement under IFRS/CPC pronouncements, and fairness and transaction opinions. He also handles valuations for shareholder disputes, arbitration and quantification of damages. The team values companies, complex securities and derivatives, real estate and fixed assets, ensuring consistency of assumptions across asset classes. Carlos advises clients in sectors such as telecoms, infrastructure, real estate, retail, energy and financial services. He is experienced in valuations for listed companies, private equity and venture capital funds, fiduciary administrators, family offices, financial institutions and independent committees.
Carlos and CBG have delivered independent valuation work in high-complexity scenarios where observable market prices are scarce. Representative engagements include fair-value determinations of illiquid holdings in private funds, valuation of concessions and infrastructure projects, built-to-suit portfolios for listed REIT structures, and impairment testing for major listed retail groups. The firm prepares reports intended for accounting disclosures, regulatory submissions, tax purposes and judicial proceedings. Carlos Bernardo Goncalves has been repeatedly recognised in specialist industry guides for business valuation and corporate finance advisory. CBG Valuation Services is among a small group of Brazilian firms affiliated with international valuation bodies, reflecting adherence to global standards and cross-border capability.
While not a practising attorney, Carlos frequently partners with business lawyers in Brazil to provide valuation analysis that underpins legal strategies. His reports are structured to meet evidentiary and procedural needs of litigation, arbitration and independent committee reviews, and are prepared in accordance with IVS, RICS Red Book, ABNT NBR standards, CPC pronouncements and IFRS where applicable. He is experienced in producing clear expert reports and supporting counsel through deposition, testimony or technical briefings. Law firms and in-house counsel rely on his defensible methodologies, sensitivity analyses and explicit documentation of assumptions, elements that influence outcomes in shareholder disputes, contested transactions, regulatory challenges and post-acquisition accounting. His bilingual capabilities and familiarity with cross-border transactions facilitate coordination where foreign parties or international standards are involved.
The Brazilian legal and regulatory environment requires careful alignment between valuation, accounting and tax frameworks. Convergence with IFRS through CPC pronouncements, complex corporate governance rules for listed entities, evolving tax jurisprudence and the frequent use of valuations in dispute resolution make valuation work a critical input to legal advice. Accurate, defensible valuation is essential where purchase price allocation, impairment, transfer pricing, tax adjustments or judicial enforcement hinge on economic quantification of value. Specialist valuation expertise mitigates risk for businesses and their advisers by ensuring market-consistent assumptions, asset-class-appropriate methods and reports that withstand scrutiny from auditors, regulators, opposing counsel and tribunals. Engaging an independent, technically recognised valuation provider reduces exposure to hindsight challenges and strengthens negotiation positions in contested matters.
Carlos is a resource for boards, audit committees, private equity sponsors, corporate finance teams, independent committees, family offices and law firms seeking a valuation expert to support transactions, reporting obligations or disputes. His practice is tailored to clients that require independent, internationally standardised valuation opinions that can be relied upon for accounting compliance, regulatory submissions, tax reporting and litigation support. In Brazil, his expertise helps align business strategy with financial reality and regulatory expectations. Carlos Bernardo Goncalves’ independent stance and cross-border experience make him a trusted adviser for complex deals and contentious matters.
Carlos combines technical rigour with practical commercial insight. His approach emphasises transparent models, scenario and sensitivity testing, and clear explanation of valuation drivers so non-specialist stakeholders can understand the conclusions. The boutique structure of CBG Valuation Services enables senior involvement in every engagement and continuity of assumptions across asset classes, an advantage in complex assignments. For businesses in Brazil seeking expert valuation support alongside legal counsel, Carlos Bernardo Goncalves offers recognised qualifications, hands-on transaction experience and institutional affiliations that make him a go-to adviser.
Carlos Bernardo Goncalves is the Managing Partner of CBG Valuation Services, a leading Brazilian specialist in business valuation with more than 20 years of experience in M&A, structured finance and corporate finance. He advises legal teams, auditors, boards and regulators and delivers independent, technically robust valuation opinions for cross-border engagements. He holds a BSc in Economics from IBMEC, postgraduate qualifications from London Business School and the University of Manchester, and is MRICS via the Senior Professional Assessment in Valuation of Businesses and Intangible Assets.
The firm handles business and intangible asset valuation, purchase price allocation (CPC 15 / IFRS 3), impairment testing (CPC 01 / IAS 36), fair-value measurement under IFRS/CPC pronouncements, fairness and transaction opinions, valuations for disputes and arbitration, and valuation of complex securities, derivatives, real estate and fixed assets.
He partners with counsel to produce valuation reports tailored to litigation, arbitration and independent committee needs, prepared in accordance with IVS, RICS Red Book, ABNT NBR, CPC pronouncements and IFRS. He provides defensible methodologies, sensitivity analyses and explicit assumptions, supports depositions and testimony, and offers bilingual support for cross-border matters.
Boards, audit committees, private equity sponsors, corporate finance teams, independent committees, family offices, fiduciary administrators, financial institutions and law firms that require independent, internationally standardised valuation opinions for transactions, reporting, regulatory submissions, tax compliance or dispute resolution.
His approach combines technical rigour with commercial insight, transparent models, scenario and sensitivity testing, and senior involvement in every engagement. The boutique structure ensures continuity of assumptions across asset classes and adherence to global standards, reducing risk and strengthening positions in contested or complex matters.
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