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Carlyle makes investment in Grupo Qualicorp

Alternative asset manager The Carlyle Group will acquire a controlling stake in Grupo Qualicorp, a provider of brokerage, consultancy services and management of private health insurance plans in Brazil.

As part of the transaction, minority shareholder General Atlantic will sell 100 per cent of its shares in Qualicorp to Carlyle and exit the investment.

Financial terms were not disclosed. The transaction is expected to close in August subject to Brazilian regulatory approval.

“Carlyle’s global footprint, financial strength and track record in the management of healthcare companies are great assets to Qualicorp,” says Heráclito Brito, Qualicorp chief executive, who will remain in command of operations. “This new partnership will help Qualicorp move to the next level of efficiency in providing high-quality services and increase our ability to make acquisitions. Up to this point our growth has been primarily organic.”

“As the middle class grows they demand services and products that were previously beyond their reach. Qualicorp is helping to meet a critical need: reasonably priced, quality health care,” says Fernando Borges (pictured), managing director who heads Carlyle’s South American investment team and worked with Carlyle’s US-based healthcare sector team on the investment.

Jonathan Korngold, a managing director of General Atlantic and head of the firm’s healthcare sector, adds: “We have the highest regard for Qualicorp’s management team and we are proud to have helped to create value and deliver strong results for the company. We will continue to be active investors in Brazil as it is an attractive market for us.”

Funds for the transaction will come from Carlyle Partners V, a USD13.7bn buyout fund, and Carlyle South America Partners.

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