Sparta raises $71M for listed infrastructure fund PREE11
What's the deal? Brazilian asset manager SpartaDealroom has a profile for this one. Try Dealroom → has raised US$94.7M in the second share offering for PREE11Dealroom has a profile for this one. Try Dealroom →, its listed infrastructure fund. The raise lifts the fund's total assets to roughly US$102.3M.
Why now? The capital came amid a rebound in redemptions across Brazilian infrastructure funds. Chief executive officer Ulisses Nehmi said the offering was helped by the fund's unusual strategy.
What's the endgame? PREE11 targets fixed-rate returns, a bet suited to Brazil's still-high interest rates and the early stage of a cutting cycle for the benchmark Selic rate.
The signal: By leaning into prefixed returns as the Selic starts to fall, Sparta is positioning PREE11 to stand apart in a crowded infrastructure fund market — and testing investor appetite as money begins flowing back into the sector.
Read more: valor.globo.com
Image credit: Maria Hsu
