Itaú-Unibanco Chair To Set Up $1B Fund

Pedro Salles, Chairman ofItaú-Unibanco, is creating a $1 billion private investment fund,金融时报》reports. The new investment fundCambuhy Investimentos, which will be funded by private capital, will only take long-term positions and target foreign companies in Brazil.

Finance executivesMarcelo MedeirosandMarcelo Barbaráwill also be the new fund’s partners. Cambuhy Investimentos is expected to partner with private equity funds in the region to invest in large deals and could target listed companies in sectors, such as manufacturing or consumer goods.

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