Brazil’s Vision Pursues Renewable Energy

Vision, the Sao Paulo-based asset manager, is close to wrapping up capital raising for a renewable clean energy company sized at close to $400m. “We’re seeing interesting flow – there is appetite from investors,” says Amaury Junior, founder of Vision, who runs the new entity. The company, which has already amassed about $285m, will focus on energy generated from ethanol and cane bagasse, as well as building a portfolio of small hydroelectric plants. Vision started roadshowing the offer during November’s choppy period. “We were quite successful, given the market conditions, through the capital raising,” says Junior. A last round of fund raising is planned for later in the year. Vision in general is getting more into alternative investment, including private equity. It raised the first $70m tranche of a $300m Brazil real estate private equity fund last week. The vehicle is a joint venture with Moore Capital that aims to purchase and retrofit office space, develop low-income housing and seek out other real estate-related opportunities.