The picanha is an incredible cut of meat from the back end of the beef. It sits on top of the round near the back legs and is often neglected by lazy butchers. This hard working muscle develops great flavor, but you want to make sure not to cook it too much.
This cut is great for grilling and feeding a crowd. Make sure you start with a hot grill. Place to roast fat side down until a nice char begins to form. Rotate as needed until you have a nice crust and the internal temperature hits 130 degrees. Remove from the grill and let it rest at least 15 minutes to let the juices redistribute. As with all cuts of beef, make sure you slice against the grain. If the picanha is overcooked or sliced incorrectly, it can become chewy.