Latin American Private Capital Update - March 17, 2020 Latin American Private Capital Update March 17, 2020
March 17, 2020
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LAVCA Private Capital Update
The LAVCA Private Capital Update is a bi-weekly email featuring industry news, research, events, and updates on investors from private equity, venture capital, real estate, infrastructure, and family offices in Latin America.

Latest Industry Headlines

Private Equity News
Private Equity News

Warburg Pincus Invests US$63.5m in Superlógica...

Venture Capital News
Venture Capital News

Aurus and ChileGlobal Ventures Invest in TIMining...

Real Asset News
Real Assets News

Vinci Partners and Others Acquire GLP for R$590m...




We wanted to share a few institutional updates to keep LAVCA members and the greater Latin American private capital community informed.

TEAM: Following the transition of Cate Ambrose to the Board of LAVCA, Ivonne Cuello, former Director of Business Development who joined the organization in 2014, has now stepped up to the role of CEO. 

Simultaneously, and starting officially in March 2020, former Board Member and IDB Chief Susana Garcia-Robles has joined LAVCA as Executive Advisor.

Susana and Ivonne will be working closely with the team to develop and execute the organization's strategy and outputs.

Meet the team

✔️Susana Garcia-Robles, Executive Advisor 
✔️Ivonne Cuello, CEO
✔️Caitlin Mitchell, Chief Communications Officer
✔️Julie Ruvolo, Director, Venture Capital
✔️Miguel Algarin, Director, Research
✔️Kaela Kennedy, Director, Events
✔️Belgica De Los Santos, Director, Finance & Operations
✔️Joyce Berman, Director, Membership
✔️Catalina Santos, Senior Economic Analyst, Business Development & Communications
✔️Dina Kavaleuski, Senior Analyst, Finance & Operations
✔️Emanuel Hernandez, Analyst, Research
✔️Paulina Portilla, Executive Assistant, Office Manager
and more....

Susana Garcia-Robles: "I am delighted to be working alongside this talented team to maintain and grow LAVCA's reputation of delivering superior data, research, education, and networking opportunities for private capital investors active or interested in Latin America. Having been involved in the organization since its inception in the early 2000s, I am deeply aligned with LAVCA's mission and I look forward to this next phase."

CONTINUITY OF MEMBER BENEFITS & ACCESSIBILITY: In light of the spread of COVID-19 across the globe and to prioritize the health of our team, the LAVCA staff will be working remotely until further notice.

Due to the nature of the organization's calendar, we don't anticipate an interruption in service (with some limited exception for live meetings in the next few months). 

The team, while taking appropriate precautions, is still available via email and phone for ongoing member calls and connections, to provide access to data and reports (new and old), and to be a resource for GPs, LPs, and direct investors who need our support. Don't hesitate to be in touch.

Ivonne Cuello: "Amidst global uncertainty, we are now more than ever committed to bringing value to the private capital community. With the support of industry veteran Susana Garcia-Robles coupled with continued engagement from Cate Ambrose and the Board and team, I am looking forward to working with LAVCA members and the community to drive sustainable economic development in Latin America."


Alta, Lafise, Actis, and Axxon Selected for PE & ESG Awards


LAVCA recently announced the winners of the 2020 Latin American Private Equity Awards during a special Latin American presentation at the PEI/PRI Responsible Investment Forum

🏆 A panel of institutional investors selected Alta Growth Capital for the 2020 Private Equity Deal for their investment in Mexican semi-trailer manufacturer Fruehauf de México. Alta Growth Capital exited the investment with the sale of Fruehauf to Mexican conglomerate Fultra in March 2019 after only four years, doubling both the company’s sales and EBITDA and successfully reentering the US market following a 20-year absence.

🏆 Lafise Investment Management received the 2020 Social Responsibility in a Private Equity Deal award for their investment in Paradise Ingredients, a Costa Rican banana puree processing company with an occupational health and safety management system, including free medical services to women at the company’s clinic and provision of school supplies to single mothers. The company also offers 24-hour medical services and physical therapy, and employees receive food subsidies and transportation services.

🏆 Actis received the 2020 Environmental Responsibility in a Private Equity Deal award for their investment in Mexican renewable energy firm Zuma Energía. The company provides low-cost, clean power to communities in Mexico through its windfarms and solar plant projects, which contribute to the reduction of 1.35 million tons of CO2 emissions on a yearly basis. Zuma also implemented wild flora and fauna rescue and relocation programs, and achieved one of the lowest collision rates for wildlife at their windfarms compared to North American standards.

🏆 LAVCA awarded Axxon Group a 2020 Environmental Responsibility Private Equity Deal Honorable Mention for their investment in Brazil’s BR Marinas, the largest marina operator in South America. The company implemented a series of programs to reduce plastic consumption and to educate communities about the environment.

Read the press release.

These deal cases and others are highlighted in the 6th Edition of the Latin American Private Equity & ESG Deal Cases. More information below. 




ACCESS the latest edition of The Latin American Private Equity Deal Book & ESG Cases which details 12 PE investments across stages, countries, and sectors, including:

Actis (Zuma Energía); Advent International (YDUQS); Alta Growth Capital (Fruehauf de México); AshmoreAVENIDA (72 HUB); Australis Partners (The Reve Group); Axxon (BR Marinas); Colony LatAm Partners (Selina); Kandeo Asset Management (Conix); L Catterton (Espaçolaser); MAS Equity Partners (Promota Medica Las Américas); Nexxus Capital (Grupo Turistore); Vinci Partners (Mundo do Cabeleireiro).

The 6th edition of the deal book illustrates real examples of the value add of private equity in Latin America. Case studies also have an environment, social, and governance (ESG) component as this has become increasingly important for institutional investors.

Over 70 deal cases have been published by LAVCA since 2014.


LP/GP Attendance Exceeds 100: EMPEA | LAVCA PE Masterclass

Colombia Masterclass Banner 2020

Thank you to all those who attended the EMPEA | LAVCA Private Equity Masterclass in association with ColCapital in Bogotá on March 4, 2020.

100+ LPs and GPs participated as discussion leaders and attendees including:

ACON Investments, Adobe Capital, Advent International, ALLVP, AlphaMundi, Altra Inversiones, Aqua Capital, Ashmore Colombia, Bamboo Capital Partners, Bancoldex, CAF Asset Management Corp., Capital Group Private Markets, CCLA Group, Cometa, Credicorp Capital Colombia, CrossBoundary, Darby Private Equity, FCP 4G | Credicorp - Sura AM, HarbourVest Partners, IFC, Incofin Americas, Inframco, Kandeo Investment Advisors, LACERA, LarrainVial, L Catterton MAS Equity Partners, Mountain Nazca, Nexus Capital Partners, NXTP Ventures, OLCSLA, ONP, Pactia, Pantheon, Pantheon Ventures, Portland Private Equity, SEAF, Seguros Bolivar, Seguros Generales Suramericana, SFC, SURA Asset Management, SWEN Capital Partners, TC Latam Colombia, Terranum, Upwelling Capital Group

Thank you to Debevoise & Plimpton and Brigard Urrutia for their support.


Latest Industry News

Private Equity News
Private Equity News

Warburg Pincus Invests US$63.5m in Superlógica (em português)

(Startupi) US private equity firm Warburg Pincus invests US$63.5m in Grupo Superlógica, a Brazil-based IT company with a focus on real estate and financial services. Read more

Vinci Partners Buys Minority Stake in AFC Soluções Ambientais (em português)

(Valor Econômico) Private-equity firm Vinci Partners bought a minority stake in Pernambuco’s AFC Soluções Ambientais, an industrial and commercial waste management company. Read more

Nexxus Capital Exits El Farolito via Sale to Grupo Gigante (en español)

(El Financiero) Nexxus Capital exited El Farolito, a restaurant franchise in Mexico, via a strategic sale to Grupo Gigante. The details of the transaction are undisclosed. Read more

Michelin Acquires Teak Capital-Backed ConVeyBelts

(Fusões & Aquisições) French multinational Michelin acquired Teak Capital-backed ConVeyBelts, a manufacturer of conveyor belts used in the mining, steel, and transportation sectors. Read more

FKS Group Acquires Stake in Tietê Agroindustrial from Proterra (em português)

(Fusões & Aquisições) FKS Group, a multinational agribusiness based in Singapore, acquired 51% stake in Tietê Agroindustrial from Proterra Investment Partners. Read more

Pátria-Backed Lavoro Agrocomercial to Acquire Central Agricola (em português)

(UOL Economia) Pátria Investimentos, through the holding company Terraverde, backed Lavoro Agrocomercial to acquire Central Agrícola, a company that sells seeds, fertilizers, and pesticides. The transaction was approved by CADE and the amount was undisclosed. Read more

Orpea Increases 50% Stake in Patria-Backed Brazil Senior Living 

(Global Legal Chronicle) The Brazilian subsidiary of Orpea, a France-based long-term care provider, increased its equity stake in Brazil Senior Living (BSL), a joint venture between Orpea and Patria Investments, to 50%. Read more

Entrepreneur Launches PE-firm SMZTO Participacoes em Negocios & SMZ FIP Multiestrategia and Raises B$50m

(Valor Econômico) José Carlos Semenzato, founder of the Instituto Embelleze and partner of Espaço Laser, launched PE-firm SMZTO Participacoes em Negocios. SMZ FIP Multiestrategia, its first fund, raised B$50m (US$10.3m) from eight partners. The firm is seeking to invest in health, beauty, education, and pet care. Read more

Venture Capital News Venture Capital News

Aurus and ChileGlobal Ventures Invest in TIMining

(Contxto) Aurus and ChileGlobal Ventures (through its CLIN fund) made an undisclosed investment in TIMining, a Chilean intelligent mining platform. Read more

Telefónica Invests in Redpoint eventures (em português)

(Medium) Telefonica, through its Innovation Ventures, made an undisclosed investment in Brazilian VC Redpoint eventures. Read more

Barn Invests in Smilink

(Press Release) Barn Investments made an undisclosed investment in Smilink, a Brazilian orthodontics startup. Read more

Naspers-Backed OLX Brazil to Acquire Grupo ZAP for US$642m

(Press Release) OLX, a global classifieds marketplace backed by Naspers, has made a R$2.9b (~US$642m) all cash offer to acquire Brazilian real estate classifieds platform GrupoZAP, subject to approval by CADE. Read more

Quona Capital Closes its Accion Quona Inclusion Fund with US$203m 

(Press Release) Quona Capital closed its second fund with US$203m in commitments. The fund’s anchor investor, sponsor, and general partner is Accion and the capital will be used to target financial inclusion startups in emerging markets. Read more

Real Asset News Real Asset News

Vinci Partners, RBR Asset Management, and BRL Trust Distribuidora de Valores Acquire GLP for R$590m (em português)

(Valor Econômico) Vinci Partners, RBR Asset Management, and BRL Trust Distribuidora de Valores acquire real estate assets from PE-backed Global Logistic Properties (GLP) for R$590m (US$128m). Read more

Colony Capital-Backed Selina to Invest in Mexico’s Hotels

(Institutional Real Estate, Inc.) Global investment firm Colony Capital-backed Selina, a community-focused lifestyle group, will invest US$150m into Mexico Hotel pipeline. The cities in Mexico include San Miguel de Allende, Sayulita, San Cristóbal de las Casas, and Mérida. Read more

FCC and IFM Investors Subsidiary Aqualia Acquire 13 Water Concessions in Colombia (en español)

(La Republica) Aqualia, water subsidiary of citizen service group FCC and Australian investment fund IMF, acquires 13 water concessions in Colombia, the third largest market for the group after Spain and the Czech Republic. Read more

ARC Partners and Ithaca Capital Acquire W Hotel Bogotá for US$40m

(Press Release) ARC Partners and Ithaca Capital have jointly acquired the W Hotel Bogotá for US$40m. This is the second joint venture for the two firms, who previously acquired the JW Marriot in Panama. Read more

Patria-Backed Alphaville Urbanismo Files for IPO

(Reuters) Patria-backed real estate company Alphaville Urbanismo filed for an IPO. The details of the transaction are undisclosed. Read more

Starboard Acquires Ouro Preto (em português)

(Valor Econômico) Private equity manager Starboard Restructuring Partners, acquired Oil & Gas provider Ouro Preto. The transaction remain undisclosed. Read more

LAVCA & Industry Events
Congresso ABVCAP 2020
Hosted by ABVCAP  | June 16-18, 2020 | New York, NY
AMEXCAP Cumbre de Capital Privado 2020
Hosted by AMEXCAP | June 29- July 1, 2020 | Mexico City, México 
Hosted by LAVCA | September 14-17, 2020 | New York, NY
LAVCA Members receive a discount on select events. For information on member discounts, contact Catalina Santos.

The Association for Private Capital
Investment in Latin America
589 8th Avenue, 18th Floor
New York, NY 10018

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