Banco do Brasil to market first PE fund to foreign investors

State-owned Banco do Brasil Group is planning to hold investor meetings in London in September ahead of the launch of it first private equity fund offered to investors outside of Brazil, BB Securities head of sales Nick Demopoulos told Private Equity International.

The fund is targeting between $400 million to $800 million and is set to launch in March, Demopoulos said. The bank typically takes a cornerstone investment in its own funds, he added. “The idea would be to have half of the fund done in Brazil before we come here,” he said.

BB Securities is a London-based subsidiary of the bank.