The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Brazil: Carrot and stick driving PE growth

3i focuses on middle market; More companies seek partners

Private equity firm 3i is the latest global player to open a fund based in Brazil – the most popular country for new private equity funds. Research by the Emerging Markets Private Equity Association (EMPEA) and Coller Capital found that Brazil had replaced China as the most attractive emerging market jurisdiction for private equity funds’ limited partners.

3i announced its first acquisition at the end of last year, taking a “significant minority stake” in TV cable and bandwidth services provider Blue Interactive for R$100 million ($55 million). It is 3i’s first transaction following a search process that has covered more than 240 companies since April 2010.

Marcelo Di Lorenzo, partner and head of Brazil for 3i, declines to reveal the size of capital the global firm has ready to deploy in Brazil but he envisages completing an average of three deals a year with the aim of building a portfolio of about 10 Brazilian companies.

Some private equity funds have found recent valuations of Brazilian companies prohibitive. For example, BR Partners told Euromoney in December that it was yet to invest any of the $200 million private equity fund it had raised because of higher valuations of targets.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree