It can also boast a record of doubling the profits of its portfolio companies. In less than a decade, the fund has moved more than $500 million into assets ranging from retail to energy and persuaded pension funds to invest in the projects. Southern Cross’s focus on Chile, Latin America’s most developed nation, also marks a change with the past. In the 1990s, foreign and local private equity funds raised $20 billion to invest in Brazil, Mexico and Argentina but many international investors fled the region after Argentina’s debt default and Brazil’s devaluation of the real.
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