SAO PAULO, Sept 29 (Reuters): U.S. private equity firm Advent International has raised a $2 billion fund to invest in Latin American companies, it said on Tuesday, its seventh focused on the region, hoping to target assets made cheaper by depreciation in local currencies.
The firm, which has been investing in Latin America since 1996, is eying 13 to 15 opportunities in financial services, healthcare, industrials, consumer and technology, mainly in Brazil, Colombia, Mexico and Peru.
Advent says it is targeting equity investments between $50 million and $300 million, which should lead it to deals bigger than those made by its previous funds in local currencies, as money in Latin America - mainly Brazil's real - has devalued during the coronavirus pandemic.
The real is down nearly 30% against the U.S. dollar since the beginning of the year.
Advent raises $2.0b fund for Latin American company bets
FE Team | Published: September 29, 2020 22:08:48
Advent raises $2.0b fund for Latin American company bets
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