PRINT THIS PAGE AIG Brazil Special Situations Fund II closes on $692m22/04/2008. Source: AltAssets. 
AIG Capital Partners has closed its AIG Brazil Special Situations Fund II on $691.9m, exceeding its target of $400m. The fund held a previous close in June 2007. BSSF II focuses primarily on investments in Brazil, but also in Mexico, Colombia, and other Central and South American countries. Areas of interest include agriculture, natural resources, consumer products and services, retail, financial services and manufacturing.
To date, the fund has made three investment commitments totalling $112.5m: Providência, a Brazilian manufacturer of non-woven fabrics; Falcon Farms, a distributor of fresh-cut flowers with production facilities in Colombia, Ecuador and Mexico; and Calyx Agro, a venture to exploit farmland trading and management opportunities in Latin America.
Ana Vigon, managing director and head of Latin America Private Equity at AIG Capital Partners, said, 'Brazil, Mexico and Colombia have seen tremendous growth over the past several years driven by rising consumer purchasing power, increasing global trade and economic stability. These strong fundamentals create attractive opportunities across the region, particularly for private equity investing, where the market is relatively underserved.'
BSSF II's predecessor fund, the AIG Brazil Special Situations Fund, closed in 2000 on $215m.
AIG Capital Partners has a team of 15 investment professionals dedicated to Latin America, with offices in São Paulo and Mexico City, and soon also in Bogotá.
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