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.

Investment management: Bradesco pushes ahead

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.

2bCapital hopes to raise a R$500 million fund, with R$50 million seed capital from each partner, that will be open to domestic and international investors. Investments will focus on companies in pre-selected sectors with annual revenues above R$100 million that have high growth potential and strong management. Minority and controlling stakes will be taken. Manuel de Sousa, who is head of ES Capital, will become managing director of 2bCapital.

Separately, on September 23 Bradesco priced $750 million in tier 2 bonds due 2019 at par to yield 6.75%. This was more than the $500 million expected and was also the first Brazilian tier 2 bond since 2006.

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