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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.
Mismatched price expectations between local sellers and foreign buyers are likely to results in 90% of deals stalling, according to Altamar's Latin America head.
The Latin America-focused private equity firm is working with Park Hill on a potential process, Secondaries Investor has learned.
The CEE and CIS regions are disproportionately represented in terms of managers failing to raise successor funds, according to data from industry body EMPEA.
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