OTPP bets $70m on LatAm e-commerce

The $130bn pension has invested in Brazilian fashion retailer The Dafiti Group, joining existing investors JPMorgan and Quadrant Capital.

The Ontario Teachers’ Pension Plan has invested $70 million in Brazilian online fashion retailer The Dafiti Group. The Sao Paulo-based company has operations in Argentina, Chile, Colombia and Mexico and offers more than 2,000 brands and 125,000 products. Teachers’ will join existing investors JPMorgan and Quadrant Capital Advisors. Dafiti also recently received a $10 million investment from Leon group, a consortium of investors represented by the owner’s of Mexico’s largest shoe brands, according to a statement. Brazil is considered the most attractive country for investments in the retail sector, according to global management consulting firm AT Kearney. Brazil’s e-commerce market added 10 million new customers in 2012 and  is expected to grow 25 percent in 2013, according to e-commerce consulting group e-bit. Dafiti, which launched in 2011, said it would use the capital to strengthen its customer service and product assortment. OTPP has $129.5 billion in net assets with about $12 billion committed to private equity.