BNDES, IFC, IDB Invest open investment fund

BNDES, IFC, IDB Invest open investment fund

Funds Corporate & Sovereign Strategy Brazil

Multilaterals institutions IFC, IDB Invest and BNDES have agreed terms over an investment fund for medium-sized companies with revenues below BRL1.5bn ($403.9m). The Brazilian national development bank said the fund will be managed by Patria Investmentos and comprised of 19 shareholders including pension funds, institutional investors and family offices. IFC will contribute BRL188m, while BNDES and IDB Invest will contribute BRL250m and BRL160m, respectively. The Brazilian development bank said

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