H.I.G. Capital brings on Penchas

Global private equity firm H.I.G. Capital has brought Henri Penchas on to its Latin America Advisory Board. The hire is the latest in a recent effort to expand its presence in Brazil.

Henri Penchas is a senior executive at Itaúsa, one of the largest conglomerates in Brazil. He is also the member of several boards in Brazil including Itaúsa, Itaú Unibanco the largest bank in Brazil, Duratex and Elekeiroz.

H.I.G. first opened its Brazil office in 2012.

In February, the firm appointed former chairman of the Brazilian Central Bank Gustavo Loyola to the same advisory board,PEI reported at the time.

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.