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Rio de Janeiro-based Signal Capital spun out last year and is aiming at Brazil's growing GP-led opportunities.
The secondaries giant opened a São Paulo office in January, its second in Latin America, as it looks to build relationships with local GPs and investors.
The office opening comes as some market participants expect the impact of the coronavirus pandemic on Latin America’s capital markets to create secondaries opportunities.
2020 was set to be a good year for exits in LatAm, and covid-19 is forcing GPs to consider other options, according to Brazil's Spectra Investments.
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The process is one of the few fund restructurings of size to proceed through the coronavirus downturn.
Spectra Investments is seeking around $200m for its fourth fund and will allocate about 40% to secondaries.
The firm will use the Santiago office to grow its regional investor base and access secondaries opportunities.
Latin America is poised for increased deaflow at decent discounts, according to Spectra Investments' Ricardo Kanitz.
In February, Altamar Capital Partners hit a €541m final close on its latest secondaries fund. Managing partner Miguel Zurita speaks to Secondaries Investor about the fundraising and what to expect next.
The deal, which involves three of the Peruvian private equity firm's existing funds, is understood to be the largest GP-led transaction to come out of Latin America.

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