Latin America

In common with all parts of the world, emerging markets are having to take stock of a major health and economic crisis. But the rationale for non-bank finance is continuing to grow and returns can be attractive. Andy Thomson reports

A closer look at the winners and runners up in the region.

The firm has taken a 20% stake in Singular, which has previously helped it raise more than $750m across eight vehicles.

The strategy has experienced a spike in fundraising, and market players don’t think that will slow down anytime soon.

The New York-based investment bank and newly-formed Stonyrock are just the latest entrants into one of alternative asset’s booming sectors: taking non-control positions in private markets managers.

LPs plan to maintain their allocations to the asset class and rank a strong GP track record as the most important factor in due diligence.

The vehicle, managed by Darby Overseas Investments, will be used to invest in mid-market companies with at least some of their revenue in US dollars.

Prudential Capital Group and Credit Suisse are setting their sights on the region, but volatility and ‘non-linear’ growth are challenges.

Much of the total comes from a $100m allocation from the University of Michigan.

The deal will allow Latitude20 to increase its loan size by $10m.