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Daycoval Taps PE Funds, IFC for Convertible

Feb 20, 2009

Banco Daycoval, the midcap Brazilian bank, has raised BRL410m in 5-year funds by tapping a group of private equity (PE) funds and the IFC. Cartesian Capital Group, Wolfensohn Capital, the IFC and Daycoval Holding, the majority owner of the bank, have structured a complex convertible debt security to help Daycoval lend to...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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