Cooking tip: First in the pan to cook the outside (5 mins max). Then in the oven for 10-15 mins.
The Brazilian picanha is, in fact, the capping muscle over to the sirloin/rump area. It is the top most layers of muscle that is, itself, covered in a layer of thick fat. In Brazilian preparation, the picanha cut is usually grilled over an open flame and is one of the meat cuts in the rodizio style restaurants, where it is common to roast the whole piece and then served it in slices cut as thinly or thickly as desired. Usually so that several people may share a single piece even though they may not agree on how well cooked the meat should be.
Rare: 10 mins in the oven
Medium: 15 mins in the oven
Well done: 20-25 mins in the oven