Private equity and venture capital firms are setting up for more bets in Latin America after strong fundraising this year.
Some $3.5 billion earmarked for the region was collected during the first half of 2014, according to new data from the Latin American Private Equity & Venture Capital Association.
A host of major new funds hit the market this year, including regionally focused offerings from Blackstone Group partner Pátria Investimentos, JPMorgan Chase unit Gávea Investimentos, Advent International, and Carlyle Group. A total of 23 PE and VC funds reached their fundraising targets in the first half.
"This is a dynamic period for private equity fundraising and we expect year-end 2014 totals to likely reach $8 billion," LAVCA president Cate Ambrose said in a statement.
The previous high came in 2011, when a record $10.27 billion was raised.