Carlyle fund traded in Latin America deal

Chilean asset manager Moneda has transferred a portion of its stake in a Carlyle European buyout fund amid rising investment from Latin American LPs.

Moneda Asset Management, a Chilean boutique financial manager, has transferred a portion of its stake in a Carlyle European buyout fund to a Brazilian fund management firm, according to a UK regulatory filing.

Santiago-based Moneda transferred 6.75 percent of its stake in Carlyle Europe Partners IV (CEP IV) to Pragma Fund SPC, a fund managed by Brazilian wealth management firm Pragma Gestão de Patrimônio. CEP IV is a 2014-vintage €3.75 billion buyout fund that closed on its hard-cap after two and a half years of fundraising, according to PEI’s Research and Analytics division.

Moneda transferred part of its stake through Moneda Carlyle II Fondo De Inversion, a €133.3 million listed fund that invests mainly in CEP IV and other Carlyle funds, according to Moneda’s website.

Moneda Carlyle II Fondo De Inversion had a €20.8 million interest in CEP IV as of 30 June, according to an investment document for the fund, which is listed on the Santiago Stock Exchange.

The deal was completed on 11 September, according to the filing.

São Paulo-based Pragma invests in a range of sectors including education, telecommunications, financial services, energy, technology and infrastructure.

CEP IV focuses on European upper mid-market opportunities across different sectors and has made investments in companies including European holiday group Homair Vacances, motion products maker Custom Sensors and Technology, elevator components manufacturer Sematic and Palacios, a specialty Spanish foods supplier, according to Carlyle’s website.

Moneda and Carlyle declined to comment. Pragma didn’t return requests for comment.

Investment from Latin American limited partners is on the rise, with a report by Coller Capital released on Tuesday showing 95 percent of LPs in the region intend to increase their target allocation to private equity, up from 61 percent a year earlier.