(Washington Post) July 20, 2010 – The Carlyle Group purchased a controlling stake in Brazil’s Qualicorp, an example of its continued interest in the growth potential offered in emerging markets. Carlyle’s Brazil investment is about $1.2 billion, according to sources who spoke on the condition of anonymity because the amount had not been officially released.
Qualicorp manages private health insurance plans in Brazil, a country that Carlyle has targeted because of rising disposable income in its middle class. That growing wealth has led many middle-class consumers in Brazil to seek to augment their government health-care plans with private coverage.
“As the middle class grows, they demand services and products that were previously beyond their reach,” Carlyle managing director Fernando Borges said in a statement.
“Health care is a sector that Carlyle has been in for a long, long time. It’s one of their core sector focuses,” said Dan Primack, editor-at-large for Private Equity Hub, which tracks the private-equity business. “This is more a reflection that the leveraged-buyout market is returning. Carlyle is one of those firms that is lucky to have a lot of capital left to do deals.”
Carlyle has more than $90.5 billion under management, spread across 67 funds. Its biggest holdings include Hertz, Dunkin’ Donuts and the nursing home giant HCR ManorCare.
By Thomas Heath
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