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Posted on March 21, 2012
Funds raised for private equity and venture capital investment in Latin America last year hit a record as investors sought to tap into fast economic growth in the region.
The amount raised for Latin America reached $10.3bn, up 27 per cent on 2010 which was also a record. with Brazil-dedicated funds accounting for the bulk of the total at $8.lbn, according to figures from the Latin American Private Equity & Venture Capital Association.
“You have by far the deepest pool of fund managers in Brazil and the longest track record of raising and investing multiple funds and returning money to investors.” said Cate Ambrose. president of Lavca.
Private equity has become an important driver of mergers and acquisitions in the recion in sectors ranging from travel and technology to energy and logistics.
Investors are attracted by the region’s growing middle classes, its emerging energy industry in cities such as Rio de Janeiro and its huge infrastructure needs.
This month Carlvle Group bought an 85 per cent stake in Ri llappy. Brazil’s largest retail toy chain. for an undisclosed amount. giving the US-based private equity group access to an industry that is estimated to have more than doubled in sales in the five vears to 2010.
“It is one of those industries that with the emergence of the middle class and the growth of the economy … you would expect an increase in spending ” said Juan Carlos Felix. managing director for Carlyle in Brazil, of the toy sector.