Latin America

Private equity and venture capital news from Latin America

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• Aureos in Mexico low-income housing scheme 07 Jul 2010. Source: AltAssets. Emerging markets private equity specialist Aureos Capital has colluded with Urbi, a Mexican developer of low-income housing, for a scheme that will allow those not able to secure mortgages the chance to get their foot on the property ladder.

• TPG, Gávea take 25 per cent stake in Cosan logistics unit 06 Jul 2010. Source: AltAssets. US private equity firm TPG and Brazilian hedge and private equity group Gávea Investimentos have purchased a 25 per cent stake in the logistics unit of Cosan, Brazil’s largest producer of sugar and ethanol, according to reports.

• IGNIA Latin America fund closes on $102m 23 Jun 2010. Source: AltAssets. Mexican private equity firm IGNIA has closed its debut fund, that will target small businesses in Latin America, on $102m. IGNIA Fund I reached the close after seven rounds of fundraising, breaking initial targets of $50m to $75m, with the final round led by JP Morgan and a Corporacion Mexicana de Inversiones de Capitol fund of funds.

• JPMorgan in talks to take over Brazilian PE firm 21 Jun 2010. Source: AltAssets. Investment bank JPMorgan Chase is ignoring US legislative reform to prevent such entities from partaking in alternative investment practices by courting Brazilian private equity and hedge fund group Gávea Investimentos, according to the Financial Times.

• Former UBS banker preps two Brazilian PE funds 11 Jun 2010. Source: AltAssets. Brazilian securities firm BTG Pactual is raising around $1bn across two private equity funds, Reuters reports, citing the Valor Economico newspaper.

• Apax makes debut Brazil investment 10 May 2010. Source: AltAssets. Apax Partners has is set to acquire a 54.25 per cent stake in Brazilian IT company Tivit, marking the first deal in the country for the London-headquartered private equity firm.

• First Reserve backs new Brazilian venture with $500m 04 May 2010. Source: AltAssets. First Reserve Corporation, an energy industry-focused private equity and infrastructure firm, has backed Brazilian exploration and production company Barra Energia Petróleo e Gás with a $500m investment.

• Darby takes $20m stake in Brazil grain port 29 Apr 2010. Source: AltAssets. The private equity arm of California investment management firm Franklin Templeton Investments has invested BRL$35m ($20m) in the grain terminal of Latin America’s largest port.

• China and Latin America graduate as CDC focuses on Africa and emerging Asia 20 Apr 2010. Source: AltAssets.  UK government owned developmental fund of funds CDC is to reduce its focus on China and Latin America, claiming that there is enough private sector support for funds in those regions without the firm’s intervention.

• LPs drawn to emerging markets 19 Apr 2010. Source: AltAssets. Institutional investors believe that emerging markets such as China, Brazil and India are the most attractive regions for investment into private equity funds, according to research released today.

• Brazilian PE fundraising to triple for year to June 2011 14 Apr 2010. Source: AltAssets. Brazil-based private equity funds could raise up to $15bn from investors by mid-2011, driven by a growing economy and increased financial risk-taking, according to Reuters.

• Standard Bank augments PE capabilities with three new hires 13 Apr 2010. Source: AltAssets. Standard Bank has hired three new senior executives to its private equity arm, augmenting the capabilities of the emerging markets-focused bank in the asset class.

• Advent raises largest ever Latin America PE fund with $1.65bn close 12 Apr 2010. Source: AltAssets. Advent International has closed its latest Latin American fund on $1.65bn, making it the biggest ever private equity fund to be raised for the region.

• Aureos joins UN-backed initiative to promote responsible investment 23 Mar 2010. Source: AltAssets. Private equity fund manager Aureos Capital, which specialises in investing in small to medium-sized businesses in emerging markets, has signed up to the United Nations Principles for Responsible Investment (UNPRI), a UN-backed initiative promoting responsible investment.

• Conduit Capital Partners sells majority ownership in Peruvian gas project 22 Mar 2010. Source: AltAssets. Conduit Capital Partners, a private equity firm focused on infrastructure investment and development in Latin America and the Caribbean, has sold a 51 per cent stake in a $1.5bn Peruvian gas pipeline project.

• Elevar raises second poverty-focused fund 16 Mar 2010. Source: AltAssets. Emerging markets investor Elevar has raised a $70m fund to invest in growth companies, expanding the reach of microfinance and other services to the four billion people at the base of the economic pyramid in countries like India, Mexico, the Philippines and Peru.

• Emerging markets private equity slows in line with global slump 09 Mar 2010. Source: AltAssets. Fundraising for emerging markets-dedicated private equity funds slowed in 2009, though investment activity was comparatively strong. Emerging markets captured nine per cent of global private equity fundraising and 26 per cent of global private equity investment, with deal activity by transaction volume down by only 11 per cent, according to new research from the Emerging Markets Private Equity Association.

• KIC plans $100m investment in emerging market IFC fund 04 Mar 2010. Source: AltAssets. South Korea's sovereign wealth fund, Korea Investment Corporation, has announced plans to invest $100m in a private equity fund managed by the International Finance Corporation, the World Bank's private sector lending arm.

• Carlyle invests in troubled Bermuda bank 03 Mar 2010. Source: AltAssets. The Carlyle Group has invested in Bermuda’s The Bank of N.T. Butterfield & Son, as part of an institutional investor group that has injected $550m into the beleaguered bank.

• Brazilian buy-out funds sitting on $9bn in dry powder 01 Mar 2010. Source: AltAssets. Brazilian private equity funds are poised to spend billions, spurred by what people familiar with the country say is the strongest investment environment for 20 years. Brazilian buy-out groups have $9bn in dry powder to deploy in the country, according to Bloomberg, who cited representatives of the country’s private equity and venture capital association, Abvcap.

• Carlyle makes first Brazil deal with $250m buy-out of holiday package firm 08 Jan 2010. Source: AltAssets. The Carlyle Group has made its maiden private equity investment in Brazil, acquiring CVC Brasil, said to be the largest tour operator in Latin America.

• Agro-Ecological Investment Management to launch $60m maiden fund 07 Dec 2009. Source: AltAssets. Agro-Ecological Investment Management, a private equity and real estate asset management company based in London, will launch its first fund in the first quarter of 2010, with a target of between $50m and $60m.

• Mexico-focused PE firm Nexxus invests in healthcare company 19 Nov 2009. Source: AltAssets. Mexico-focused private equity firm Nexxus Capital has invested in Estudios Clínicos, a clinical analysis and diagnostic imaging services provider, through its third fund, Nexxus Capital Private Equity Fund III.