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Middle East Appetite Growing as Abu Dhabi Makes EBX Bet

Mar 27, 2012

Abu Dhabi sovereign wealth fund Mubadala Development Company has agreed to pay $2bn for a 5.63% stake in Brazil’s EBX group, underscoring the growing trend of big-ticket Mideast equity investments in LatAm. Bankers say they are spending more and more time pitching sovereign wealth funds with investment opportunities in a diversifying number of LatAm sectors, with the caveat that the Middle Easterners need size. “We are talking a lot to these investors to pitch them private transactions. There has been an increased interest since the end of last year,” says a Sao Paulo-based ECM banker, referring to investments with structures similar to EBX and...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management