AIG Fund Invests in Brazilian Engineer

AIG Investments has put BRL60m into Advento Participacoes, a Brazilian specialty engineering services provider. The investment, which carries the option to spend BRL20m more in the future, will come via AIG’s Brazil Special Situations Fund II, which closed in April with $692m in commitments. Advento plans to use proceeds to acquire Brazilian builder Serpal Engenharia e Construtora. It is the fund’s fourth investment, following stakes in Brazilian textile manufacturer Companhia Providencia, Colombian grower Falcon Farms, and Louis Dreyfuss Commodities’ Calyx Agro agricultural land acquisition venture.