Jaguar Growth Partners has acquired Brazil-based real estate securitization platform RB SEC from RB Capital for an undisclosed amount.
(Press Release) Jaguar Growth Partners (“Jaguar”), a privately-held investment management firm specializing in real estate private equity in global growth markets, today announced its acquisition of Sao Paulo-based RB SEC, Brazil’s leading real estate securitization platform, from RB Capital.
“RB SEC is a pioneer of Brazil’s securitization market and we believe it is well positioned to become an even bigger player as the securitization sector consolidates,” said Mario De Barros, head of Jaguar’s Brazil office. “We anticipate growing demand in Brazil for warehousing and securitizing revenue streams, especially in real estate.”
RB SEC has issued more than R$44 billion in tradable securities for many of Brazil’s largest companies and multinational brands. Nearly 80% of these securities are in real estate, diversified across asset classes.
RB SEC warehouses, structures, packages and securitizes receivables, thus transforming relatively illiquid individual assets into liquid securities. The firm also monitors obligations, ratings renewals, covenants and payments.
“The expertise of RB Sec’s leadership team in managing, structuring and securitizing real estate revenue streams is a powerful complement to our long and successful history of investing in Brazilian commercial, industrial and logistics real estate platforms,” said Thomas McDonald, Managing Partner and Head of Americas at Jaguar.
In 2018, for example, a Jaguar-managed fund invested in Bresco Investimentos (Bresco), a leading Brazilian industrial real estate property company headquartered in Sao Paulo. Since Jaguar’s investment, Bresco has raised R$1 billion, via public offerings, for one of its logistics real estate funds.
“We look forward to working closely with Jaguar in an effort to further expand RB SEC’s growing footprint in Brazil’s securitization market,” said Flavia Palacios, CEO of RB SEC. “We’re in a very strong position to meet growing demand from companies and investors alike for sophisticated and transparent structuring of these receivables into tradable securities.”
The RB SEC acquisition was made through Jaguar’s second Latin American fund, which focuses on investing opportunistically in real estate-related operating platforms and companies in key markets. Previous Jaguar investments in Latin America include LatAm Logistic Properties, Aliansce Shopping Centers, Vesta, Hoteles City Express, Bresco Investimentos and Colombian Healthcare Properties.
About Jaguar Growth Partners
Headquartered in New York with affiliated offices in Latin America and Asia, Jaguar is a privately-held investment management firm focused on real estate companies and operating platforms. Founded in 2013, drawing from decades of experience, Jaguar actively collaborates with accomplished local entrepreneurs and leading institutional partners, to optimize both asset and enterprise value in the most compelling regions, countries and business sectors around the globe.
In March 2020, Jaguar launched its inaugural fund dedicated to real estate opportunities in Asia with its acquisition of Brilliant (Shanghai) Enterprise Management Consulting (“Brilliant”), a leading Chinese warehouse, distribution and logistics property company. Jaguar currently manages two funds focused on Latin America, supported by investment offices in New York, Sao Paulo and Mexico City and has a presence in Mumbai and Hong Kong. Portfolio companies are located in multiple continents, across multiple property sectors, including logistics and corporate property, retail, hospitality and healthcare.
Please see www.jaguargrowth.com for additional information.
About RB SEC
Since its founding more than 20 years ago, RB SEC has been recognized as a leading pioneer of Brazil’s securitization market. The company provides sophisticated and transparent financial solutions for leading Brazilian companies and investors. RB SEC’s experienced team specializes in warehousing, structuring, issuing and managing securitizations, with a focus on real estate, agribusiness and financial receivables. The firm currently manages more than R$30 billion via 200 of these securities.