Aqua Capital Raises $188M For Second Agribusiness Buyout Fund

Mar 11 2016 | 11:34pm ET

Brazilian private equity company Aqua Capital has raised $188 million for its second buyout fund. 

The fund’s first close took place last week, according to The New York Times citing two unidentified individuals familiar with the efforts. 

Brazil’s economy has been among the hardest hit from the soaring value of the U.S. dollar and concurrent decline in energy and commodity prices. The nation is mired in a deep recession and the government there is facing corruption allegations. In some ways, the environment is ripe for private equity involvement as investment capital, which was flowing freely in Brazil only a few years ago, has largely dried up.

Backers of the new fund reportedly include the University of Texas Investment Management Company and German overseas development company DEG. The company hopes to eventually raise a total of $300 for the new vehicle, according to the Times, with a hard cap at $350 million. 

Aqua’s first fund, which closed in 2013, raised approximately $173 million. The company focuses on investments in companies engaged in the Brazilian and South American agribusiness value chain, including food and logistics. 

Founded in 2009 by Sebastián Popik, Sao Paulo-based Aqua is an independent private equity firm focusing on growth investments in mid-market companies.


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