LPs and Liquidity in Brazilian Private Equity

Duncan Littlejohn, Managing Director for Latin America at Paul Capital and a Board Member of ABVCAP, details the distinguishing characteristics of the Brazilian LP community, including veto rights and seats on the investment committee, and why the industry lacks long track records despite “great case studies and home runs.” Other topics include the evolving process of local LPs allocating to private equity, secondary activity among Brazilian funds, and the key objectives and accomplishments of ABVCAP, Brazil’s national private equity and venture capital association.