Hong Kong-based China Development Integration Limited (CDIL) group is set to invest USD 200 million in Brazil, through a local investment fund.
Brazilian fund Rubicon will invest the USD 200 million in opportunities for the Chinese company in the sectors of oil and gas, renewable energy, infrastructure, mobile technology, agriculture, sanitation and mining in South America´s largest economy, according to a statement.
“We see potential in Brazil because it is a country rich in resources, what is lacking is access to foreign capital”, said Edmond Amir, head of international projects for the Chinese company.
“We believe that Brazil can be a new economic power (…) if it uses its resources properly and invests in education. Our idea is to identify companies and assets that will be able to move to a new stage of development with our investments”, Amir added.
The Brazilian asset manager was founded six months ago by executives Pedro Cecchi and Pedro Guimarães, who worked at the oil company PetroRio.
“Our thesis is that, with the market slowed, those who have liquidity will be able to enter, as many companies will have difficulty accessing working capital or capital for expansion”, says Guimarães, president of Rubicon.
