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Banking

Investment banking: BR Partners is the new kid on M&A block

BR Partners breaks into top-five Brazilian advisers; Firm seeking investment banking licence

Brazilian consumer products company Hypermarcas’ three latest acquisitions announced in mid-November are also good news for start-up boutique BR Partners.

The deals – R$85 million ($49.2 million) for soap brand Pom Pom, R$84 million for drug brands Diderat, Peridal and Lopigrel, and R$82.5 million for dental brand Bitufo – bring the number of M&A transactions that BR Partners has advised on to 14 this year, according to Dealogic. The firm is ranked fourth by number of deals.

The fees generated will enable it to report a 2010 operating profit, two years ahead of the business plan projections. The partners have agreed unanimously to receive this year’s non-basic annual compensation in equity to enable the firm to build its working capital.

BR Partners was launched in November 2009 by founding partner and chief executive Ricardo Lacerda, previously head of investment banking for Latin America at Citi and before that Goldman Sachs’s country manager for Brazil

"We want to really take advantage of the vacuum that comes below Pactual. We don’t think Brazil has an independent player of mid-size that is a full-service financial institution – that’s the space we want to occupy"

Ricardo Lacerda, BR Partners

BR Partners was launched in November 2009 by founding partner and chief executive Ricardo Lacerda, previously head of investment banking for Latin America at Citi and before that Goldman Sachs’s country manager for Brazil.

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