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Brazil’s BTG launches $1bn Africa PE Fund

By on May 8, 2012

Brazil-based BTG Pactual bank has launched a $1billion Africa-focused private equity fund, according to the bank’s chief executive Andre Esteves [pictured].

The fund is touted to be the largest private equity vehicle exclusively targeting Africa, and is also set to be Brazil’s largest non-domestic private equity fund.

The vehicle will reportedly primarily target LP investors within Brazil over the next six to 12 months, but will also be open to global LPs. The fund will also look at deals in sectors such as energy and infrastructure.

BTG Pactual’s fund strategy is to build on Brazil’s growing interest in Africa. Esteves was speaking at a seminar on Brazil-Africa trade and investments in Rio de Janeiro.

BTG Pactual is ranked as the largest independent investment bank in Latin America, valued at $14.6billion. BTG Pactual was created in 2009 as a merger between UBS Pactual, a bank formerly owned by UBS, and BTG, a global investment firm owned by Esteves.

BTG Pactual’s Africa fund announcement comes just after it raised almost $2billion in an initial public offering.