Gavea Raises Third PE Fund

Gavea Raises Third PE Fund

Funds

Brazilian asset manager Gavea Investimentos is in the process of closing its third private equity fund, expected in the $1.2bn size area, say executives at the shop. The company’s founder Arminio Fraga told LatinFinance in February he would look to raise a new fund following a $840m vehicle raised in March 2007 and after a first, $350m PE fund closed in 2006. With the new entity, Gavea, which is privately held and counts on onshore and international investors, will have $7.5bn under management.

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