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BTG Pactual launches $1bn Africa private equity fund

4 May 2012

Brazilian financial services giant BTG Pactual has launched a $1bn private equity fund to invest in Africa, making it the largest investment vehicle focused on the emerging continent and the biggest ever raised to invest outside of Brazil.

Speaking at a seminar on Brazil-Africa trade and investments in Rio de Janeiro on Thursday, the investment bank’s chief executive Andre Esteves said the fund aims to harness some of the “enormous affinity that Brazil has with Africa.”

The vehicle, which will target investments in sectors such as energy and infrastructure, will raise the money within the next six to twelve months primarily from Brazilian investors, although Esteves said it will also be open to participation from partners outside of the country.

The news marks the bank’s first big move outside of Brazil, and follows its stellar $2bn IPO last week.

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