Banco Bradesco to raise money for infrastructure funds in Brazil
Local press reports that Banco Bradesco SA, one of Brazil's largest banks, is planning to raise two private equity funds to invest in infrastructure, the first time it will take money from clients for this type of investment.
"We will launch two private equity funds, one exclusively to invest in companies linked to infrastructure projects and the other with a mix of investments," said Denise Pavarina , one of the bank's top executives, with responsibility for Bradesco 's private equity, private banking and asset management units.
Brazil's largest private bank aims to raise US$500 million for the mix fund and US$300 million for the infrastructure fund. The first fund may be launched during the first semester of 2014.
Mantiq, which was spun off from Banco Santander Brasil SA last year, is also said to be seeking US$490 million for a second general infrastructure fund that will launch by next year. Mantiq has three private equity funds but its biggest fund is InfraBrasil.
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