Within the region of Latin America, Brazil accounts for the largest proportion of private equity activity. Currently, 77 private equity fund managers are headquartered in Brazil, according to Preqin's Fund Manager Profiles database. Collectively, these firms have raised an aggregate $16bn in capital over the last 10 years and have an estimated $7bn in available dry powder. Of the Brazil-based private equity fund managers, 68% are based in Sao Paulo, 24% are based in Rio de Janerio and the remaining 8% of managers are based in Belo Horizonte, Curitiba, Florianópolis and Porto Alegre.
The top five Brazil-based private equity fund managers in terms of aggregate capital raised in the last decade are Gavea Investmentos, Patria Investimentos, Vinci Capital Partners, BTG Pactual and Angra Partners.
Gavea Investimentos was founded in 2003 and operates in Rio de Janeiro and Sao Paulo. In 2011, Gavea Investimentos closed Gávea Investment Fund IV having raised $1.8bn in total capital commitments. The fund invests primarily in Brazil, and utilizes a variety of private equity investment strategies including buyout, growth, distressed, PIPEs, and venture capital. The firm has raised $4.1bn in capital commitments over the last decade for private equity investment and has an estimated $1bn in dry powder.
Pátria Investimentos focuses on buyout investments across a broad range of industries throughout Brazil. Established in 1994, the firm has raised just over $2bn in aggregate capital commitments over the last decade, with $1bn in estimated dry powder currently available. The firm closed Pátria Brazilian Private Equity Fund IV in 2011 having raised an aggregate $1.25bn.
Vinci Capital Partners focuses on growth stage investments in Brazil. It has raised $2bn in aggregate capital commitments over the last 10 years and has an estimated $1bn available in dry powder. Vinci Capital Partners closed Vinci Capital Partners II in 2011 having raised $1.4bn in capital commitments.