OPIC Board Approves $66 Million For Investment Fund For SMEs In Brazil
June 22, 2012
(OPIC)
WASHINGTON, D.C. – The Board of Directors of the Overseas Private Investment
Corporation (OPIC), the U.S Government’s development finance institution,
approved $66 million in financing for a new investment fund designed to provide
much-needed growth capital to small and medium-sized enterprises (SMEs) in
Brazil.
The fund, DGF Capital III, will make investments intended to expand company
product lines, promote investment in new equipment and facilities, improve
corporate governance standards, and enhance financial reporting and controls. It
will focus on companies with leading market positions in high-growth sectors
such as business services, information technology, healthcare, and consumer
goods. The fund has a target capitalization of $200 million.
“Brazilian small and medium-sized businesses are underserved by private equity
financing – a fact which prevents them from realizing their full potential and
effectively contributing to the country’s economy,” said OPIC President and CEO
Elizabeth Littlefield. “This fund will help Brazil unlock some of that
potential, by investing precisely in those SMEs which stand the best chance to
emerge as leaders in their respective industries.”
OPIC selected as fund manager DGF Investimentos, a pioneering, independent
Brazilian private equity firm with approximately $300 million in assets under
management. DGF Investimentos’ partners have built a solid track record of 27
investments and 15 exits since 1998. Closing of OPIC’s financing is subject to
certain conditions and negotiation of final terms.
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