Money has been pouring into Brazil's hedge fund market over the past couple of years, but concerns are rising over just how concentrated these flows are among a few key players and their potential market impact.
U.S. hedge funds reduced equity holdings tied to Brazil by about a net total of $800 million from the start of the year to end of March, according to data compiled by Bloomberg. The profit taking came after a 69 percent surge in Brazil’s benchmark stock index last year. The pullback from Brazil seemed well timed Thursday, as the Ibovespa gauge plunged 16 percent in dollar terms amid a rout in the country’s assets as a political crisis enveloped President Michel Temer and threatened to derail his push to shore up government finances. Oil producer Petroleo Brasileiro SA and lender Banco do...
SAO PAULO May 8 Verde Asset Management SA, Brazil's largest hedge fund, sees lingering risks that Brazilian lawmakers will further water down government efforts to streamline the social security system, a move that could hamper austerity efforts in Latin America's largest economy. Investors have been "complacent" with the negotiations as
Santander Bank has launched an initiative to foster technology ventures in Brazil and develop new ways to improve banking relationships with individuals and other businesses.
Prior to its recent capital infusion, the Brazilian ride-hailing service has raised more than $25 million in three rounds of funding—all thanks to investments made by Qualcomm Global, Qualcomm Venture, Tiger Global Management, and StartCaps Ventures, among others. Cab aggregation, notes Tech Portal, is a currently a hot market—with the most competition among companies operating under the same.
Duke Energy has completed the $1.2bn sale of its power operations in Brazil to China's Three Gorges Corp.
<p>China's iron ore imports from India surged in October and purchases from Australia grew slightly, data showed on Friday, with total shipments to the world's top buyer of the steelmaking commodity on course to top 1 billion tonnes this year.</p> <p>Shipments from Australia, which account for nearly two-thirds of China's imports, rose 3 per cent to 49.89 million tonnes last month, according to China's official customs data. Shipments from No. 2 supplier Brazil increased 17 per cent to 17.88 million tonnes.</p>
"Silicon Valley is a state of mind," said Ambassador Pedro Borio, Consulate General of Brazil in San Francisco, during a recent address at the annual BayBrazil Conference at the Googleplex in Mountain View.
DST Global, the investment firm started by a Russian venture capitalist, Yuri Milner, has led an $80 million private investment in a Brazilian start-up called <a href="https://www.nytimes.com/2015/06/03/business/dealbook/nubank-raises-30-million-to-challenge-banking-in-brazil.html">Nubank</a>, the company is expected to announce this week. The new financing suggests that despite Brazil’s political and economic upheaval, the financial technology sector remains a bright spot.