Friday, 28 August 2015
Last updated 9 hours ago
Jun 15 2011 | 11:38am ET
The Carlyle Group has closed a South America private equity fund, part of a US$1 billion foray into the continent.
The new fund will focus on Brazil and closed with US$776 million; Carlyle also announced that it has raised a further 360 million Brazilian reals for a dedicated pool alongside Banco de Brasil.
"Broad economic trends, including the rising middle class, make South America in general and Brazil in particular a desirable investment destination," Fernando Borges, head of Carlyle's South American effort, said.
"South America is a vital part of our broader emerging-markets strategy," David Rubenstein, Carlyle's co-founder, added.
That strategy includes Carlyle's purchase this week of a majority stake in emerging-markets hedge fund Emerging Sovereign Group and a planned US$500 million fund targeting sub-Saharan Africa.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…