Banco do Brasil Investments and Portugal's Banif SGPS SA founded a private equity fund to invest 600 million real’s ($344 million) in Brazil, Valor reported today, citing executives from both companies.
The fund plans to invest in companies with earnings between 300 million reals and 800 million real’s, according Brazilian newspaper.
It's interested in companies that plan on selling shares on the stock market, Valor said, citing Marcos Rechtman of Banif's private-equity division.
The fund will buy shares of about 20 percent in each company, Valor added, citing Francisco Duda, head of the capital markets unit at Banc do Brasil Investments.
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