Brazilian private equity firm EB Capital Gestao de Recursos is hoping to raise some USD 300 mn from Saudi investors to launch a USD 600 mn fund, Bloomberg reports. The firm — which manages close to USD 1 bn in assets — is in talks with Saudi investors to back the fund, with an eye to launch it by 3Q 2024, the business information service says, without providing further details on the investors EB Capital is in talks with.

The pitch: Backing the fund would open up a path for “Saudi investors to approach the Brazilian market,” EB Capital’s founder and CEO Eduardo Melzer tells Bloomberg. EB Capital is looking to invest in Brazil’s climate and energy sectors.

REMEMBER- Saudi and Brazil have both been showing interest in expanding their trade and investment ties, establishing the Saudi-Brazilian Coordination Council after it was approved by the Cabinet back in February.

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