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Quilvest follows buyout flock to Brazil

26 September 2012

(Financial News) September 26, 2012 – Family-owned private equity investor and wealth manager Quilvest has opened an office in São Paulo, Brazil, becoming the latest firm to target growth in one of the world’s leading emerging markets for private equity deals.

The São Paulo office is Quilvest’s second in Latin America, as the firm already has a ground presence in Montevideo, Uruguay. Quilvest’s São Paulo office will be used to source co-investment opportunities in Brazil as part of its global emerging markets program. Daniel Arippol, a vice-president at the firm, will move from Quilvest’s New York office to lead the new office.

Alongside the opening of its São Paulo office, Quilvest announced plans to open an office in Geneva, Switzerland, in order to focus on wealth management.

Michel Abouchalache, chief executive of Quilvest, said: “Quilvest is a global pioneer in wealth management and private equity. Expanding our corporate footprint is a natural evolution. Our São Paulo and Geneva offices will further enhance our proximity to our investor base as well as to key markets.”

So far in 2012, there have been 14 buyouts in Brazil worth $799m, according to Dealogic – 12 more than the next most active South American country, Argentina.

A number of private equity firms have set up Brazilian branches in recent years. So far in 2012, US fund of funds Hamilton Lane has opened an office in Brazil, while fund of funds Pantheon appointed a Latin America head and UK buyout firm Inflexion opened an office in São Paulo.

However, a recent report suggested that the Brazilian market has become over-competitive. Erwin Roex, partner at secondaries firm Coller Capital, which conducted a survey with the Latin American Venture Capital Association on deal prospects in the region, said there was a perception Brazil was becoming an “overheated” market.