Private equity funds target Brazilian property
Private equity funds are expecting a significant increase in demand in upscale Brazilian property during the second half of the year and are to raise 2.5 billion reais (£873,500, 000) to take advantage of it, it has been claimed.
According to a Reuters report, which cites a story in the Valor Economico newspaper, several companies including Och Ziff Capital Management Group and Tishman Speyer have or plan to open new funds specifically for the sector.
Investments in property in Brazil in the first half of the year totalled 1.28 billion reais, with private equity firms accounting for 49 per cent of all transactions, the news provider claims.
The new round of funding is expected to reach the Brazilian property market by early next year, the publication adds.
Meanwhile, Bloomberg recently reported that US firm Equity International, which is owned by billionaire Sam Zell, is considering opening a Brazil real estate company.
