Daycoval Taps PE Funds, IFC for Convertible

Daycoval Taps PE Funds, IFC for Convertible

Funds

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 SMEs in Brazil. Investors in the deal have two options in which to participate, explains Xavier Jordan, the IFC’s principal investment officer. In a first option, investors can

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