China’s Fosun group buys Brazilian company Rio Bravo Investimentos

1 August 2016

China’s Fosun group has completed the purchase of Rio Bravo Investimentos, one of the most important private investment management companies in Brazil, with a portfolio of nearly US3$billion, the group announced in a statement released in São Paulo.

“The operation is part of Fosun’s growth strategy in emerging countries and aims to expand business in Latin America. This is the Fosun group’s first acquisition in the region and represents one more step to leverage local investment potentials following the acquisitions of Idera Capital in Japan in 2014 and Resolution Property in the United Kingdom in 2015, along with the creation of Fosun Eurasia in Russia, also in 2015,” the statement indicates.

Rio Bravo Investimentos will be integrated in the business of the Chinese group, maintaining the products it now markets as well as the respective business portfolio, though “expansion of activity based on new opportunities and synergies” should eventually take place.

The Fosun group did not release the amount involved in this deal, but specified that it hopes to take advantage of “the exceptional period of change and economic renewal” occurring in Brazil and neighbouring countries.

The Brazilian company began activity in 2000 and is the Brazilian market leader in property fund management. It is also active in private equity (investment in companies not publicly traded), stock funds, credit funds, infrastructure funds, financial consultancy and management of portfolios of multiple asset categories. (Macauhub/BR/CN)