GP plans new buy-out fund
Created: May 15, 2008 11:00 AM
SAO PAULO (Bloomberg) — Bermuda-based GP Investments Ltd., the largest Latin American private-equity firm, plans to raise a fifth fund for buy-outs that might be its biggest, Valor Economico said, citing Financial vice-president Allan Hadid.
GP has already used 82 percent of its $1.3 billion GP Capital Partners IV LP fund on acquisitions, Valor said. The fund began considering a new fund after the ratio reached 75 percent, Hadid told Valor. He didn't disclose to the newspaper the possible size of the new fund.
GP has $734 million in cash available, including a 200 million real ($120 million) credit line with Banco Itau Holding Financeira SA, for buyouts, Valor said.