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Evercore Partners 'to invest in Brazilian property'

Date added: 11th August, 2011 at 10:21
(view all articles from August, 2011)

G5 Advisors, an Evercore Partners joint venture, is to invest in Brazilian property, natural resources and utilities.

This is according to co-founder of G5 Corrado Varoli, who told Bloomberg over $1 billion (£617 million) is needed to set up three funds backing the sectors.

As much as 400 million reais (£152 million) will go toward investing in commercial real estate, particularly shopping centres, he stated.

"We see investors' continuing appetite for Brazilian assets," the Sao Paulo-based expert told the news provider.

"Opportunities in Brazil are still significant," he added.

Mr Varoli co-established the mergers and acquisitions advisory service, which already manages a 30 million reais fund for residential Brazilian property, after working as a partner at Goldman Sachs Group.

He said Evercore would be investing with G5, but spokesperson for the company Kenny Juarez refused to comment.

Brazilian property funds are to become easier for investors to understand, as the government intends to improve the transparency of such schemes as their popularity increases, Dow Jones Newswires recently reported.

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