Preqin’s Fund Manager Profiles product reveals Brazil is home to 42 private equity fund managers. Seventy one percent of these managers are located in Sao Paulo, with a further 21% based in Rio de Janeiro. The remaining fund managers are located in Belo Horizonte, Florianópolis and Porto Alegre. Collectively these private equity firms have raised $14.1bn over the last ten years and have an estimated $7bn available in dry powder.
Seventeen of these firms located in Brazil offer venture capital financing as part of their investment strategy, half offer growth investments either exclusively or as part of a broader investment approach, and 19 offer buyout investments. The three largest private equity firms headquartered in Brazil by aggregate capital raised over the last decade are Gávea Investimentos, Patria Investimentos and BTG Pactual.
Gávea Investimentos was founded in 2003 by Arminio Fraga Neto, the former president of Brazil's Central Bank. The firm’s activities are focused on three lines of business: hedge funds, private equity funds and equity funds. Gávea has offices in Rio de Janeiro and São Paulo, and has raised over $4bn over the last ten years to invest in Brazil through growth and hybrid funds.
Pátria Investimentos alternative asset management business includes the management of corporate private equity funds, real estate funds and hedge funds. The private equity arm focuses on buyout investments in a broad range of industries throughout Brazil. Established in 1994, this firm has raised $2.5bn over the last decade, with $1.4bn in estimated dry powder currently available.
BTG Pactual’s investment focus includes early stage, growth, pre-IPO and leveraged buyout opportunities in Brazil and Africa. The firm is headquartered in São Paulo with other offices around the world, and has raised $1.5bn over the past decade with nearly $1.4bn in estimated dry powder currently available.