Tecnisa, a Brazilian residential property manager, announced a joint venture with H.I.G. Capital to return to real estate market after two years of inactivity in the sector. This represents H.I.G’s first residential real estate deal in Brazil.
(Press Release) H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce that one of its affiliates has partnered with Tecnisa S.A., a publicly traded Brazilian homebuilder (“Tecnisa”) in a joint venture to develop for-sale residential projects in Brazil (“JV” or “Partnership”).
“We are happy to partner with H.I.G. Capital, as H.I.G.’s experience and track record will certainly help bring success to the partnership. The selected projects represent outstanding development opportunities and we look forward to expanding the JV with more projects in the future”
Tecnisa is an established homebuilder in Brazil listed on B3 (São Paulo) stock exchange since 2007 (ticker: TCSA3). With over 40 years of activity, Tecnisa has developed more than 7.2 million square meters across Brazil. The Partnership will initially be comprised of projects in the city of São Paulo, Brazil.
Daniel Nader, Head of H.I.G. Realty in Brazil, said: “We are excited to make our first investment in the Brazilian residential market, partnering with an experienced developer such as Tecnisa. The residential asset class is set to benefit from Brazil’s economic recovery and we believe the projects under the JV are well located and are positioned to perform well. We look forward to working with Tecnisa in the coming years.”
“We are happy to partner with H.I.G. Capital, as H.I.G.’s experience and track record will certainly help bring success to the partnership. The selected projects represent outstanding development opportunities and we look forward to expanding the JV with more projects in the future,” said Joseph Meyer Nigri, Tecnisa’s CEO.
Financial terms were not disclosed.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $30 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Rio de Janeiro, São Paulo and Bogotá, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Fernando Marques Oliveira
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