The Maturation of PE in Brazil

The next 10 years of private equity in Brazil will be “much better than the past 10 years,” argues Fernando Borges, a current Vice President of ABVCAP as well as Managing Director and Head of South America for the Buyout Group of The Carlyle Group.

In an exclusive Privcap interview, Borges describes the industry’s evolution from an initial bad spell in the 1990s to a new era after 2007. Other topics: the importance of local stock markets to private equity exits, how GPs have more ways to make money now, how Brazil’s huge under-40 population drives growth and how a tax-law change is one of ABVCAP’s biggest accomplishments.