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3i nears second Brazil buyout 12 months after debut deal

12 Dec 2012

UK private equity firm 3i is nearing its second deal in Brazil one year after inking its first transaction in the country, according to Marcelo Di Lorenzo, managing director of 3i in Brazil, speaking to the Wall Street Journal.

He said, “Right now, we are looking very seriously at an investment in one company, I can say that it is well advanced.

“We are analyzing investments in four other companies and I can say that they are at a very interesting level,” said Di Lorenzo.

He added, “Our intention is to stay in Brazil because this is the largest country in the region.

“If you look at Mexico, for example, you see a big economy but there are few middle-sized companies, the economy is more concentrated in big conglomerates so it doesn’t provide room for private equity operations.”

Last month AltAssets reported that 3i was looking to launch a $500m country-specific fund in Brazil next year. The firm also opened an office in Sao Paulo in April last year to target investments in the country.

The firm signed its maiden deal in Brazil in December 2011 by buying a $55m stake in Brazilian cable TV and broadband provider Blue Interactive.

In 2001 it drafted in Standard Bank Private Equity professionals Di Lorenzo, Edward Hanmer, Felipe Vivacqua and Carlos Lopes to run its new office in Sao Paulo.

About 20 per cent of 3i’s companies generate a portion of their revenues from Latin America.

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