Data & Intelligence

Brazil Data Insight (Year-End 2018)

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In a year marked by significant political changes, investors demonstrated growing confidence in opportunities across the private capital spectrum in Brazil. LPs committed USD6 billion to Brazil-focused funds, representing a 267% year-over-year increase and the highest level recorded by EMPEA since 2011. Vehicles managed by Patria Investments—including Patria Private Equity Fund VI, the largest fund ever raised in Latin America—accounted for more than half of all fundraising. Yet, fundraising success was not confined to just one GP, nor to traditional PE strategies. A substantial portion of the 2018 fundraising total accrued to 11 different local currency vehicles, with BRL-denominated fundraising surging to the highest level since 2012. Other fund managers sought to capitalize on investor appetite for private credit fund strategies. GPs raised a record USD2.1 billion for distressed debt, direct lending, and special situations funds—more than quadruple the amount raised over the preceding 12 years combined. In contrast, traditional growth equity activity in Brazil has stagnated. GPs deployed just USD420 million via growth deals in 2018, the lowest amount recorded by EMPEA, although a modest uptick in fundraising for growth equity strategies may point to improving prospects.

EMPEA represents the leading global investors in EM. I look forward to working alongside to drive much-needed capital for financing entrepreneurs and businesses worldwide.

Renuka Ramnath | Founder, Managing Director & Chief Executive Officer, Multiples Alternate Asset Management Private Limited

EMPEA plays an important and energetic role across the markets it represents, driving outreach and research initiatives, and promoting the role of private capital.

Brian Lim | Partner and Head of Asia and Emerging Markets, Pantheon Ventures

The developed markets have no equivalent to the role EMPEA is playing as a convener and source of trusted information in the emerging markets.

David Rubenstein | Co-Founder and Co-Executive Chairman, The Carlyle Group

I’m honored to join fellow industry pioneers in the leadership of an unparalleled network, filled with first movers, shaping the future of industries and communities.

Dr. Andrew Kuper | Founder and CEO, LeapFrog Investments

EMPEA's market and industry intelligence opens doors to new sources of capital.  I look forward to the future success of EMPEA and its members.

Torbjorn Caesar | Senior Partner, Actis

While there are certainly challenges for the industry, the opportunities abound in our target markets and globally, making a global association like EMPEA more relevant than ever.

Drew Guff | Managing Director & Founding Partner, Siguler Guff & Company