By Fiona Hurrell, Contributing Reporter
RIO DE JANEIRO, BRAZIL – Financial institution Hamilton Lane is the latest in a number of global firms to open an office in Brazil, right in the center of its most famous city, Rio de Janeiro. Founded in 1991 and based in the U.S. with offices in Europe, Asia and the Middle East, Hamilton Lane reports more than US$17 billion of assets under management, one of the largest allocators of private equity capital in the world.
Chief Information Officer Erik Hirsch explains: “We view Brazil as an increasingly important component of the global equity landscape. [Rio de Janeiro] was the right combination of appropriate talent and establishing a presence in an important location for the Brazilian market.”
The company, which provides private equity fund management, has hired two of Brazil’s leading industry professionals as the branch’s vice presidents. Ricardo Fernandez Silva, Jr. and Filipe Caldas have joined the Hamilton Lane team and will work to expand the company’s presence throughout Brazil.
Having both previously worked with global asset management firm, Capital Dynamics, they bring nearly twenty years of combined financial experience which will enable them to deliver local expertise to Hamilton Lane’s Clients across Brazil and Latin America.
In the company press release, Mr. Caldas spoke of his anticipation for Brazil’s investment market and of his collaboration with Hamilton Lane. “With a rapidly expanding middle class, continued regularity improvements and high-quality companies with experienced management teams, Brazil offers long-term opportunities for private equity investment.”
Hirsch is hopeful that the resources in Brazil will present lucrative prospects: “We’ve seen attractive growth in the Brazilian market and expect this trend to continue. Our expanding local presence, combined with our global capabilities, positions us well for the opportunities ahead.”
Chief Executive Officer Mario Giannini agrees, stating “As the country’s private equity environment continues to grow – in investment opportunities, liquidity events and the amount of capital ready to deploy – it’s important for Hamilton Lane to have a local presence in Brazil.”
To a greater extent, the emergence of large firms, like Hamilton Lane, in Brazil’s industry sector has contributed to the employment market, aiding an increasing number of expatriate, as well as various Brazilian, sub–contractors and suppliers.
Recently hired by Hamilton Lane to provide installation and technological support, Rio IT Solutions owner David Young points out the value of large corporations in Brazil: “Many businesses from all over the world are coming to Rio and they are looking for companies like ours to provide guidance and project management with the experience of American and European companies.”
The following months will see Hamilton Lane establish itself in the private equity industry of Brazil, and, should the move prove prosperous, Hirsch is positive that the business will further expand. “This does represent our first office in South America and we are optimistic this represents the beginning of a broader expansion into the region.”