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News from Venture Equity Latin America
Volume I, No.19, November 11, 2002
GIC Plans Distressed
Asset Investment Fund
GIC Group, Alexandria, VA, is developing a new fund to make investments in distressed companies in Argentina
and Brazil.
The firm seeks to raise up to $20 million for the vehicle, which will either be structured as a limited partnership or an investment trust, and is putting together its team of advisors and
partners in the two countries. The firm has identified an opportunity to acquire deeply discounted stakes in companies that, otherwise healthy, are unable to keep ahead of crippling dollar debt. It
plans to stick to its own area of expertise, broadly defined as agribusiness, but which also includes any food-related businesses and even some infrastructure, according to Richard Gilmore, head of GIC.
Reach Mr. Gilmore at (703) 684-1366. |
