Monday, 30 November 2015
Last updated 4 hours ago
Jul 18 2014 | 1:02pm ET
JPMorgan Chase’s Brazilian private-equity arm is set to close its fifth fund with at least US$1 billion in commitments.
Gávea Investimentos will hold a final close on the fund by the end of this month, The New York Times reports. The vehicle is expected to garner between US$1 billion and US$1.2 billion.
Gávea is closing the fund following a difficult year for Brazilian p.e. and venture capital firms, which raised 35% less in 2013 than in 2012. All told, the industry garnered just US$2.4 billion last year—less than the combined size of Gávea’s new fund and a US$1.5 billion fund being raised by Patria Investments.
Still, Gávea is settling for less both than its fourth fund raised—US$1.9 billion in 2011—and the US$1.5 billion it had targeted last June. It also took longer to raise less; a source familiar with the fundraising told the Times that “it was a harder sell.”
JPMorgan bought Gávea in 2010.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…