Sao Paulo-based Kinea is seeking to invest $96 million from its private equity fund by the first half of next year, Bloomberg reports. The investment firm of Itau Unibanco Holdings has utilized the fund to acquire stakes in car-rental company Unidas and education group Grupo Multi. Kinea is aspiring to take over 30-50% stakes in companies with a high potential for growth. The firm has deals lined up in sectors where Brazil has a competitive edge. The firm’s 30-strong team of fund managers will also be expanded.
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