Plans for the biggest private equity fund in Africa

Andre Esteves, owner of the Brazilian investment bank BTG Pactual, has announced plans to launch the biggest private equity fund focused on the African continent. The fund plans to raise $1bn to be invested in sectors such as energy and infrastructure. It remains to be seen whether it will invest broadly, or whether there will be a noticeable bias towards Portuguese speaking Africa, mainly Angola, Mozambique and Guinea-Bissau. To date, Mozambique has attracted the most Brazilian investment.

The fund has been hailed as a crucial development in strengthening south-south economic ties, particularly between Brazil and Africa.It comes amidst a spate of pronouncements by Brazilian politicians and leaders, including former president Lula, on the importance of strategic relations between Brazil and Africa.

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