Brookfield Said to Raise $300 Million for Brazil Farmland Fund

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(Bloomberg) Brookfield Asset Management Inc., Canada’s largest alternative asset manager, has raised $300 million for a new agricultural fund targeting Brazilian farmland, a person with knowledge of the matter said.

The Toronto-based firm is targeting $500 million in total for the fund, with a maximum of $700 million, the person said, asking not to be identified discussing private information. Brookfield Brazil Agricultural Fund II will be used mainly to acquire cattle ranches that will be converted into sugarcane or soybean farms, said the person.

Brookfield has a long history in Brazil — the world’s largest sugar producer. The company was founded in 1899 in Sao Paulo as Brascan Ltd. before changing its name in 2005. The asset manager is also raising a new commercial real-estate fund of about $1 billion focused on Brazil, people familiar with the matter said earlier this month.

Since 2006, Brazilian farmers have expanded the soybean planted area by 11 million hectares (27 million acres), mostly driven by demand from China. Most of the advance was over areas previously used for extensive, low-productive cattle breeding. While demanding massive investments in fertilization, the conversion of pastures into farmland tends to increase the value of land as soy and sugar cultivation is more profitable.
A Brookfield spokesman declined to comment.

Equity International-led Consortium Announces New Investment in Grupo Acosta Verde

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(Press Release) Equity International (EI), the privately held investor and builder of leading real estate companies outside of the United States, announced the closing of a new investment in Grupo Acosta Verde, a family-owned developer, owner and manager of shopping centers in Mexico. Read more

VivaReal Captures a Series C Greater than R$100m, Bringing New Investors to Brazil

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(Startupi) VivaReal has received a third round of funding, this time from venture capital firm Spark Capital (which has invested in start-ups like Twitter, Tumblr and Oculus VR) and from private equity firm LeadEdge Capital, both based in New York with operations in Brazil. The total invested was $US41.7m, equivalent to $R100m according Crunchbase. Read more

Patria Investimentos Plans Investments of up to US$500m in Colombia (en español)

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(America Economia) Patria Investmentos, one of the biggest funds in Latin America, will begin operations in Colombia where it hopes to invest between US$300m and US$500m in the next three years in real estate, infrastructure and business sectors. Read more

Latin America’s Navent Raises US$30M From Riverwood Capital, Tiger Global To Bolster Regional Online

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(Tech Crunch) Latin American real estate and jobs classifieds company, Navent, has announced it’s raised US$30 million in Series B funding from global technology private equity firm Riverwood Capital and global internet investor Tiger Global Management, also a controlling shareholder of the company. Read more

Blackstone eyes first Colombian RE foray

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(PEI) The New York-based private equity and real estate giant is partnering with two firms that originally had planned to raise a property fund targeting the Latin American nation. Read more

Advance Real Estate Announces US$250 Million of New Equity Capital for Mexican Industrial Property Expansion

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(Press Release) Advance Real Estate, an industrial property developer in Central Mexico, announced today US$250 million in new equity capital to expand its portfolio. The equity comes from an asset-level joint venture with one of Canada’s largest pension funds and will support the development of 800,000 square meters (approximately 8.4 million square feet) of new gross leasable area. This investment follows on the October 2013 entity-level investment from Equity International (EI), the Chicago-based institutional real estate investment company led by Sam Zell and Tom Heneghan. Read more

Patria Investimentos Passes Halfway Mark for Latest Real Estate Fund

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(Alt Assets) Brazilian private equity firm Patria Investimentos has passed the halfway mark for its latest real estate fund, according to regulatory filings. Read more at Alt Assets

The Terranum Group and Equity International Close Acquisition of Decameron Hotels & Resorts

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(Press Release) The Terranum Group and Equity International officially closed on the acquisition of Decameron Hotels & Resorts, the biggest hotel chain in Latin America. Read more

Carlyle Injects Additional US$21m into Urbplan Desenvolvimento Urbano

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(Bloomberg) Senior Carlyle professionals have injected an additional US$21m into Urbplan Desenvolvimento Urbano, a real-estate developer in Brazil. Read more