Caitlin Mitchell, LAVCA
Riverwood Capital’s Blockbuster 99 Deal Receives Top Honor in Latin American Private Equity Awards
Institutional Investors Select Aqua Capital, Linzor Capital Partners, and ACON Investments for Environmental, Social, and Gender Diversity Categories
New York, March 5, 2019 – The Association for Private Capital Investment in Latin America (LAVCA) today announced the winners of the 2019 Latin American Private Equity Awards. A panel of institutional investors selected Riverwood Capital for the 2019 Private Equity Deal for their investment in Brazilian ride-sharing service 99. Riverwood exited their investment with the sale of 99 to Beijing-headquartered technology giant DiDi Chuxing in January 2018, representing the only all-cash exit in the ride-hailing industry globally to date.
Aqua Capital received the 2019 Environmental Responsibility in a PE Deal award for their investment in Brazilian plant nutrition company Fertiláqua due to the implementation of an environmental and safety program, including an upgraded production facility that minimized energy and water use and reduced emissions. In 2018 Fertiláqua was one of the first Brazilian companies to receive an ISO 14001 Environmental Management System Standard designation.
Linzor Capital Partner received the 2019 Social Responsibility in a PE Deal award for their investment in Farmashop, a Uruguayan pharmacy chain with company-wide programs for employee education and diverse hiring practices, including a pilot program to hire people with disabilities and an annual campaign called Mamas, Tias, y Abuelas aimed at employing and mentoring women aged 35-50 who are looking to enter or re-enter the workforce.
LAVCA awarded ACON Investments the inaugural 2019 Gender Diversity in a PE Deal award for their investment in Betterware, a Mexican consumer/retail company that provides flexible employment, training, and zero interest rate working capital for women. The majority of Betterware’s employees are female including 98% of Betterware’s salespeople and 90% of the company’s regional managers.
Judges included international institutional investors such as development finance institutions, insurance companies, pension funds, and trusts. Scores took into consideration company transformation, IRR, EBITDA, governance, and where relevant, social and environmental impact.
Award winners are being honored during a special Latin American presentation at the PEI/PRI Responsible Investment Forum today, March 5, 2019 in New York. These deals and others are highlighted in the fifth edition of the Latin American Private Equity Deal Book and ESG Cases. Over 60 deal cases have been published by LAVCA since 2014.
LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean. LAVCA’s membership is comprised of over 190 firms, from leading global investment firms active in the region and local fund managers to family offices, global sovereign wealth funds, corporate investors, and international pension plans. Member firms control assets in excess of US$65b, directed at capitalizing and growing Latin American businesses. LAVCA’s mission – to spur regional economic growth by advancing private capital investment – is accomplished through programs of research, networking forums, education and advocacy of sound public policy. Visit www.lavca.org for more information.