Jaguar Growth Partners has made an investment in Bresco, a Brazilian industrial real estate company. No financial terms were disclosed.
NEW YORK, Nov. 8, 2018 /PRNewswire/ — Jaguar Growth Partners (Jaguar), a privately-held investment management firm specializing in real estate private equity and credit in global growth markets, announced a significant minority investment in Bresco, a leading Brazilian industrial real estate company headquartered in Sao Paulo.
Bresco’s current portfolio includes 5.6 million square feet (523,000 square meters) of Class A, institutional-quality properties in Brazil, leased to leading multinational tenants such as John Deere, Carrefour, Natura & Co, Reckitt Benckiser, Groupe Casino, DHL, Fiat Chrysler Automobiles and UPS. The company plans to significantly expand its portfolio and will seek to invest more than $500 million over the next few years.
“Bresco has led the way in institutionalizing Brazil’s industrial real estate sector by capitalizing on the strong demand for Class A space among multinational firms establishing or expanding their presence in this dynamic market,” said Thomas McDonald, Managing Partner and Head of Americas at Jaguar Growth Partners. “We believe that strong demand for logistics real estate in Brazil, the scalability of Bresco’s successful business platform and experienced team are compelling components of this investment.”
“We welcome Jaguar’s regional and sector expertise, and look forward to benefiting from their strategic support as we seek to expand our portfolio of properties in the coming years,” said Bresco’s CEO, Carlos Betancourt. “We continue to see strong demand for institutional-quality logistics real estate and are confident that Jaguar will be a valuable partner to our growth strategy.”
Jaguar’s founders, Gary Garrabrant and Thomas McDonald, have previously collaborated with Mr. Betancourt on the development of a prior company, Bracor Investimentos Imobiliarios, which was one of Brazil’s leading corporate property companies. The divestment of Bracor in 2011 for $1.5 billion was the largest real estate transaction in Brazil at that time.
The Bresco investment was made through Jaguar’s second Latin American fund, which focuses on investing opportunistically in real estate-related operating platforms and companies in key markets. Previous Jaguar investments, through Jaguar Real Estate Partners I in Latin America, include LatAm Logistic Properties, Aliansce Shopping Centers, Vesta, and Hoteles City Express. Jaguar will seek to expand the current Bresco platform by attracting additional growth capital through co-investment.
Last quarter Jaguar announced the hiring of Mario De Barros as Principal and Head of Brazil on the firm’s investment team, reinforcing the firm’s long-term commitment to the region.
About Jaguar Growth Partners
Headquartered in New York with offices in Sao Paulo and Mexico City, Jaguar Growth Partners is a privately-held investment management firm specializing in real estate private equity and credit in growth markets globally. Founded in 2013 by Gary Garrabrant and Thomas McDonald, Jaguar invests in and develops scalable real estate operating platforms and companies poised to grow in emerging economies characterized by an expanding middle-class and attendant consumerism, aspirational youth, urbanization and inefficient access to capital.
Jaguar currently manages two funds focused on Latin America and has commenced activities in India initially focusing on high-yield debt investment with a strategy expected in 2019 that will focus on India, China and other leading growth markets in Asia. As in Latin America, Jaguar will invest across the region, capitalizing on the growth of the middle-class, urbanization and other long‐term secular trends that are expected to drive prospects for investing in real estate in these growth markets.
Jaguar is distinguished by an active investment style working in close collaboration with local operating partners. Jaguar is a member of the Pension Real Estate Association, Emerging Markets Private Equity Association, Latin American Private Equity & Venture Capital Association and the Institutional Limited Partners Association.
Please see www.jaguargrowth.com or @JaguarGrowth for additional information.
Bresco is a leading Brazilian industrial real estate company focused on acquisition, sale-leaseback, built-to-suit and speculative development of class A industrial real estate focused on logistics. The company’s current portfolio is comprised of 5.6 million square feet (523,000 square meters). The shareholders are the founding partners of Natura & Co (Luiz Seabra, Guilherme Leal and Pedro Passos), the CEO Carlos Betancourt and Jaguar. Bresco’s purpose is to be a valued and trusted partner to companies and communities and a partner of choice for its clients’ real estate demands. Bresco is a founding member of the Green Building Council in Brazil and a pioneer in green building LEED certification in Latin America given that it has developed many LEED-certified “green buildings.” Please see www.bresco.com.br for additional information.