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Peso Exchange RatePrivate equity funds are expected to raise about 2.5 billion reais ($1.4 billion) in the second half of 2009 to invest in Brazil's real estate markets, betting on rising demand for commercial property and upscale housing, Valor Economico newspaper reported.
Companies including Och Ziff Capital Management Group, Tishman Speyer and local private equity firms such as Prosperitas, Patria Investimentos and Brazilian Capital have opened new funds or will do so by the end of the year, the daily said without citing a source for the information.
Investments in Brazilian commercial real estate fell to 2.6 billion reais in 2008 after peaking the previous year with nearly 3.7 billion reais in transactions, Valor said citing figures from real estate services firm Jones Lang La Salle. Investments in 2009 through June totaled 1.28 billion reais, with private equity funds accounting for 49 percent of all deals, the daily said.
The most recent round of funding should reach Brazil's real estate market starting in 2010, Valor said. ($1=1.834 reais) (Reporting by Elzio Barreto, Editing by Guillermo Parra-Bernal and Maureen Bavdek).
http://www.reuters.com/article/privateEquityFinancialServicesAndRealEstate/idUSN046850720090804