Bradesco plans to form two private equity funds to invest in infrastructure. This will be the first time that the bank will use money from customers for this type of investment. The largest private bank in Brazil aims to raise $500 billion for a mixed fund and $300 million for a fund aimed only for infrastructure projects. The first fund may be launched in the first half of 2014.
We will launch two private equity funds, one exclusively for investing in companies related to infrastructure projects and the other with a mix of investments, said Denise Pavarina, one of the top executives of the bank, responsible for the area of private equity, private banking and asset management units.
For the first time, Bradesco will invite its customers to invest in the fund. So far, the bank has used only its own capital to private equity investments, although it is part of a joint venture with the Portugal’s Banco Espírito Santo, which is open to other investors.
These private equity funds that we will launch will also be offered to our customers. The time to make the decision is now because we are more convinced of what we are doing, said Pavarina.
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