Franklin Templeton Investments' subsidiary Darby Overseas Investments has opened an office in Sao Pa...
Franklin Templeton Investments' subsidiary Darby Overseas Investments has opened an office in Sao Paulo in Brazil. This follows Franklin Templeton's recent expansion in Europe by registering 44 of its Luxembourg Sicav range of funds in Poland.
Darby said it has opened an office in Brazil because of increased demand for private equity and mezzanine investments. Over the past 10 years, Darby has invested around $150m in 11 Brazilian or Brazil-related companies.
The asset manager recently closed its $175m Darby-BBVA Latin American Private Equity fund to new investments. The fund invests in Brazil as well as Mexico and the US Hispanic Market.
"Brazil is a core market for Darby given the country's sheer size, it economic and leadership potential among the world's largest emerging economies," said Richard Frank, chief executive of Darby. "In particular, we see good future opportunities to invest in logistics, agribusiness, infrastructure, retailing and export-oriented sectors."
Following the registration of the 44 funds and the appointment of Obsluga Funduszy Inwestycyinych, a subsidiary of Citigroup's Global Transaction Services Division, as its service provider, Polish distributors can now trade directly with Franklin Templeton Investments.
Franklin Templeton's Central and Eastern European business operates from its office in Warsaw, where the sales and marketing operation is headed by Borno Janekovic.
"This is an important step for us as we want to demonstrate our ongoing commitment to growing our business in Central and Eastern Europe, which is a growth area," said Harshendu Bindal, director of sales and business development for the Middle East, Central and Eastern Europe at Templeton Investments.
The registration has extended the number of European states in which Franklin Templeton distributes its Luxembourg funds. They include Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Gibraltar, Guernsey, Ireland, Italy, Jersey, Latvia, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK
An increase in demand for private equity and mezzanine debt has led Darby to open a Brazil office.
Other Franklin Templeton subsidiaries are pushing into central and Eastern Europe.
‘Promising lead’ or ‘Back to the lab’?
Have economic cycles fundamentally changed?
Our weekly heads-up for advisers
Two global vehicles
'Further plug advice gap'