Top 5 BRIC-based Private Equity Fund Managers

by Adam Counihan

  • 12 May 2010
  • PE

Preqin research shows that there are 274 private equity fund managers currently headquartered in the BRIC countries with 26 based in Brazil, 28 based in Russia, with the vast majority, 110 and 109 respectively, based in India and China. Private equity fund managers located in the BRIC region have raised private equity funds totalling over $56 billion in the last 10 years. Preqin data reveals that, in terms of total capital raised, the top five fund managers headquartered in BRIC are SAIF Partners, ICICI Venture Funds Management, Bohai Industrial Investment Fund Management Company, Hopu Investment Management and Gávea Investimentos.

SAIF Partners has raised $3.4 billion over the last decade, and has $2 billion of funds and a total of 68 portfolio companies under management.  The fund manager tends to invest in early stage, special situations and growth capital deals in the business services, financial services, communications, consumer services, education services, healthcare, and manufacturing sectors.

The second fund manager on the list is ICICI Venture Funds Management, which was established in 1988. The firm has raised $3 billion over the last 10 years and focuses on buyout, growth capital, late stage, mezzanine, real estate, recapitalization, turnaround, and venture transactions.

Bohai Industrial Investment Fund Management Company is an international fund of funds manager that has raised $2.5 billion over the last 10 years and was established by the Tianjin Municipal Government to help transform the region’s economy and turn the northern port city into a powerful economic and financial hub.

Hopu Investment Management and Gávea Investimentos are the final two fund managers comprising the top five private equity fund managers headquartered in the BRIC region, having raised $2.5 billion and $2.3 billion respectively in the last 10 years. Hopu Investment Management was founded in 2007 through a joint venture between Fang Fenglei (Goldman Sachs China Partner) and Temasek Holdings. The firm focuses on buyout investments in China and has no specific industry preferences. Gávea Investimentos is an asset management company based in Brazil. It was founded in 2003 by Arminio Fraga Neto, the former president of Brazil's Central Bank.

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