H.I.G. Capital has appointed Gustavo Loyola to its Latin America advisory board.
Loyola has twice served as the chairman of the Brazilian Central Bank and is currently a co-founder of Tendencias Consultoria.
H.I.G. created its Latin American advisory board as part of an expanded presence in the region. The firm first opened an office in Brazil in 2012, and now maintains four offices in the country.
“Our plan is to expand our activities over the coming years to other countries in the region, including Chile, Colombia, Mexico and Peru,” said Fernando Marques Oliveira, managing director and head of H.I.G. Brazil & H.I.G. Latin America.
So far, H.I.G. has completed nine transactions in Latin America to date. Most recently, its portfolio company LG lugar de gente, a human resources software provider in Brazil acquired W3net, a provider of SaaS human capital management systems. With the acquisition LG became the only human resources focused company in Brazil with a full scale SaaS human capital management system.
Ricardo and Cibele Vasconcelos, co-founders of W3, will serve as technology and commercial directors and will lead the company's growth and integration efforts.