Wednesday, 1 April 2015
Last updated 9 hours ago
Oct 25 2013 | 11:28am ET
Neuberger Berman Group is looking south for a place to spend its private-equity dollars.
The firm is eyeing five Central and South American countries in particular, according to alternative investments chief Anthony Tutrone: Brazil, Chile, Colombia, Mexico and Peru. The three have one thing in common, he said: A growing middle-class.
"We really like Latin America right now," Tutrone told The Wall Street Journal. "Similar to Australia, our interest in Latin America is not in the private-equity transactions that are natural resource-related. It's more the burgeoning growth in the middle class, who want more consumer products, retail, healthcare, financial services, education, so you have a tremendous tailwind behind those industries."
"It sets up for a great future arbitrage, because end-buyers are often multinationals seeking to enter the market, or when you take companies public, there's an appetite from pension funds to invest," he added.
Tutrone said that he assumes Neuberger Berman will "open at least one more office there in the next 12 to 18 months." The firm already has a base in Buenos Aires, Argentina, but Tutrone said "the one market we could use more density in, in the short term, is South America."
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…