Sao Paulo, Brazil-based FAMA Private Equity has closed its first private equity fund on R$100 million ($56 million; €40 million), just shy of the firm’s target of between R$120 million and R$150 million.
“The fact that we were able raise R$100 million is very exciting because, although slightly below our initial target, valuations of companies have come significantly down… so we believe will be able to accomplish our target of acquiring four to five companies with what we have raised,” managing director John Lin told PEO.
