Bradesco, one of Brazil’s leading banks, and Portugal’s Banco Espírito Santo have joined forces to create a new private equity company that will operate in Brazil.
The company, known as 2bCapital, will be jointly controlled by Bradesco’s asset management subsidiary, BRAM, and Espírito Santo Capital, the Portuguese bank’s subsidiary. BRAM is the second-largest private fund manager in Brazil, with R$160 billion ($89 billion) in assets under management from 3.3 million investors. The partners hope that Bradesco’s presence in Brazil will pair well with Banco Espírito Santo’s long-standing international presence in the private equity market.
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