As part of a growing number of firms who are looking to expand into Latin America, The Carlyle Group has made its premiere real estate investment in Brazil by investing in local property developer Scopel. Financial terms of the transaction were not disclosed.
The transaction was made through the firm's recently formed Latin America real estate team, which was established in September 2006.
Eduardo Machado, based in Sao Paulo, heads the Latin America real estate team. Prior to joining Carlyle, he was a managing director at Fibra Realty, the real estate company of the Vicunha Group. Machado has also worked in real estate finance and investment banking with Banco Pactual, Rio Bravo and Banco Ourinvest. He was the founder and president of one of the first securitization companies in Brazil and also structured one of the first REITs in the country.
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