When 2019 vintage São Paolo-based Brazilian private equity fund Starboard Special Situations 2 returned ‘3x’ in three years, XP Private’s then global head, Beny Podlubny, realised a healthy profit as an investor. But, more importantly, he also saw confirmation of his view that the distressed-situations fund was tapping a lucrative and largely ignored seam of Brazil’s financial geology.
The famous Steve Jobs line about being able to trace one’s life back from the end to see the coincidental and transformative junctures, can be applied to companies.
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