Search

 

Cablegate: Institutional Investors Learning Journey (Iilj) Visit To

VZCZCXRO5989
RR RUEHRG
DE RUEHRI #0580 2951430
ZNR UUUUU ZZH
R 221430Z OCT 07
FM AMCONSUL RIO DE JANEIRO
TO RUEHC/SECSTATE WASHDC 4223
RUCPDOC/USDOC WASHDC
RHEHNSC/NSC WASHDC
INFO RUEHBR/AMEMBASSY BRASILIA 0597
RUEHSO/AMCONSUL SAO PAULO 5095
RUEHRG/AMCONSUL RECIFE 3380

UNCLAS RIO DE JANEIRO 000580

SIPDIS

SIPDIS

STATE FOR GREG MANUEL
NSC FOR DAVID MCCORMICK
EB/ESC JAMES EIGHMIE AND NEA
NSC FOR FEARS

E.O. 12958:N/A
TAGS: EINV EFIN PREL BR
SUBJECT: INSTITUTIONAL INVESTORS LEARNING JOURNEY (IILJ) VISIT TO
BRAZIL


1. (U) Summary: From September 9-14, a group of pension and
endowment fund managers, accompanied by Commerce DAS Ana Guevara,
FCS and Treasury Brazil personnel, visited Rio de Janeiro and Sco
Paulo on an Institutional Investors Learning Journey (IILJ). The
IILJ was organized by the Brazilian Venture Capital Association
(ABVCAP) and Brazilian Industrial Development Agency (ABDI), and
supported by Commerce ITA. The group, which represented more than
US$300 billion in alternative asset funds, came to learn more about
the Brazilian market for private equity investing. This visit is a
deliverable under the Commercial Dialogue between Secretary
Gutierrez and Minister Jorge, the next meeting of which will take
place on October 11, 2007 in Brasilia. End Summary

2. (U) The delegation visited Rio from September 9-11. Ambassador
Sobel, who had been in the United States, returned specifically to
accompany the delegation, since this visit was an important
milestone to advance goals set in the Commercial Dialogue by
Secretary Gutierrez and Minister Furlan in June 2006.

SIPDIS

3. (U) In Rio, the IILJ delegation participated in a macroeconomic
briefing by the Treasury Attach, a meeting with Rio Governor Sergio
Cabral, a cocktail hosted by ITA with Rio State Secretaries for
Finance and Economic Development, as well as meetings with the
Brazilian Development Bank (BNDES), the Brazilian SEC, and the
Brazilian innovation agency (FINEP). The Ambassador hosted a dinner
for the IILJ participants, which provided an opportunity for
dialogue with representatives from major U.S. investment banks in
Brazil. On September 11, the group visited the Catholic University
of Rio (PUC) for a briefing on a new business incubation/private
equity initiative and participated in a roundtable with high-ranking
executives from the major Brazilian pension funds.

4. (U) While in Sco Paulo from September 12-14, the delegation
visited the Sco Paulo Stock Exchange (BOVESPA), the Commodities and
Futures Exchange (BMF), and held meetings with asset management
companies. The group also attended presentations on public equity
and private equity investments in Brazil, and concluded its visit
with a meeting with the President of Brazilian Central Bank Henrique
Meirelles.

5. (U) The investors were amazed at the opportunities and rapid
growth occurring in Brazil, and several stated that they planned to
return. There was a great deal of interest in possibilities
presented for private equity.

6. (U) This visit will be presented as a deliverable during the
upcoming Commercial Dialogue between Secretary Gutierrez and
Minister Jorge on October 11, 2007 in Brasilia. We expect to see
an increase in visits by US investors, and an eventual increase in
US investment in Brazil - particularly in private equity - as a
result

MARTINEZ

© Scoop Media

 
 
 
World Headlines

 




UN: “COVID-19 Is Not Over”, Tedros Warns World Health Assembly

The head of the World Health Organization (WHO) told global health Ministers on Sunday that although reported COVID-19 cases and deaths have declined significantly, it is not time to lower the guard... More>>



UN: Bachelet Calls On Mexico To Step Up Efforts As Tragic Milestone Reached Of More Than 100,000 Disappearances

UN High Commissioner for Human Rights Michelle Bachelet on Tuesday called on the Mexican authorities to step up efforts to ensure truth and justice for victims of disappearances, who now number more than 100,000, according to official data... More>>


ADC: Statement On The Assassination Of Shireen Abu Akleh

Early this morning in Jenin, Occupied Palestine, revered Palestinian voice Shireen Abu Akleh, a Palestinian American journalist for Al Jazeera, was assassinated by Israeli Occupation Forces snipers...
More>>





Access Now: Elon Musk’s Twitter Buyout Must Not Come At The Expense Of Human Rights

Following today’s announcement that Elon Musk will acquire complete ownership of Twitter in a cash sale of around 44 billion USD, pending shareholder approval, Access Now urges Twitter’s Board, employees, and shareholders... More>>



UN: Biodiversity And Ecosystem Protection Highlighted On Mother Earth Day

Marking International Mother Earth Day, UN General Assembly President Abdulla Shahid urged on Friday, for collective action to safeguard biodiversity and protect ecosystems... More>>

Ukraine: Hundreds More Reach Safety After Fleeing Besieged Mariupol
In Ukraine, humanitarians said on Wednesday that hundreds of people have managed to reach safety after fleeing Mariupol, where there’s also been condemnation for the killing of Lithuanian filmmaker Mantas Kvedaravicius... More>>