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Sam Zell Likes Brazil as an Investment

 
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Billionaire Sam Zell, known for his real estate and media investments, went on record as saying that Brazil is his choice for new investment. At the Milken Institute Global Conference in Los Angeles, Zell said that Brazil will be the next China, according to several news reports including one from Reuters.
 
"I'd buy Brazil," Zell told his audience at the Conference. "It has the chance 30 years from now of being a bigger economic power than China." Zell is the chief executive of news and media group The Tribune Company and chairman and president of Equity Group Investments.
 
As one example of how Brazil is performing, Zell noted that Brazil’s largest mall operator, ECISA, was seeing retail sales grow 10% annually. Equity International, the private equity firm affiliated with Sam Zell's Equity Group Investments, LLC, recently invested $44.5 million in the ECISA Group ("ECISA").
 
Brazil's economy has grown for five consecutive years, and gross domestic product rose 5.4% in 2007, the fastest rate in three years. It was led by a surge in investments by companies in new machinery and by consumer demand.
 
In another sign of how things are going in Brazil, the country’s stock market, the Bovespa, recently claimed the lead as the fastest growing equity market in the world in recent years. A report from Bloomberg quotes one investor as saying Brazil is a hot market:
 
“Brazil is on the radar screen of global investors right now,'' said Simon Nocera, a former manager at Soros Fund Management LLC and co-founder of San Francisco-based hedge fund Lumen Advisors LLC, which added to Brazil holdings recently.
 
The Bovespa was the best performing index among the biggest markets during the first two months of 2008 as the commodity boom boosted shares of steelmakers and sugar processors such as Gerdau SA and Cosan SA Industria e Comercio.
Brazilian Real Estate
    

 

 

 

 

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