Rio Bravo Completes Final Close of FIP Rio Bravo Energy I at BRL463 Million (Latin America)

Source: Rio Bravo Investments

Rio Bravo Investments, a Brazil-based asset manager, has completed the final close of its renewable energy fund, FIP Rio Bravo Energy I, at BRL463 million (approximately US$275 million). Rio Bravo has already committed the fund’s capital to hydro and wind energy projects currently being developed through partnerships with mining firm Orteng, Servitec of São Paulo, and Electrosul, a member of Electrobras Group. With this latest close, the fund has added international pension funds and foundations to the domestic investor base that participated in its first issue of BRL300 million, which closed in October 2010.