With New Muscle, Blackrock Is Betting Big On Brazil

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As part of their rapid expansion plans, new financial heavyweight Blackrock is bulking up on its Latin American presence.

Three new Brazil ETFs will be launched by the end of this month, investing across consumer companies, real estate, and the overall stock market.

In addition, they have expressed interest in partnering with a local bank in order to expand their Brazilian business.

Needless to say, they are extremely bullish on the prospects for Brazil’s capital markets.


BlackRock, based in New York, will increase assets from 500 million reais ($275 million) as it opens new funds, said Saulo Mendes de Almeida, the company’s head of sales in Brazil. Current assets don’t include Brazilian securities in funds managed outside the country, he said at an event in Sao Paulo.

“We’re not worried about risks in the domestic market,” Mendes de Almeida said. Brazilian markets “will remain liquid, even if the situation abroad provokes a flight to quality,” he said.

BlackRock expects about 20 initial public offerings in Brazil this year, including real-estate, utilities and consumer companies, Mendes de Almeida said.

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