Swiss-headquartered alternatives firm Partners Group has planted its first flag in South America with the establishment of an office in São Paolo, Brazil.
The new office will serve as a base for both investment activity and client relationship management in Latin America, the firm said in a statement on Friday, which cited Brazil’s political and regulatory stability and dynamic economic growth as reasons to set up in the country.
Partners’ São Paolo office will be headed up by Karin Hallin, a senior vice president within the firm’s investment solutions group. Hallin had previously been responsible for Latin American deal origination and business development from a base in New York.
Brazil – and more widely Latin America – has become a hot destination for private equity firms hoping to capitalise on the region’s expanding middle class and macroeconomic stability. During 2010 a number of global private equity firms agreed debut Latin American deals, including Apax Partners, Actis, First Reserve Group and The Carlyle Group. UK-based 3i Group is understood to be currently considering a move into Brazil.
“The opening of our presence in Brazil reflects our integrated global approach and the market potential we have identified in this region,” said Urs Wietlisbach, founding partner and executive vice chairman of Partners, in a statement. Partners has over €20 billion under management and invests across private equity, debt, real estate and infrastructure.
In December Partners revealed it had lured the founders of mid-market investor GermanCapital to open its first German office in Munich. Partners now has 14 offices around the world including São Paolo. As well as Munich, the firm opened up in Seoul and Dubai last during 2010.