Carlyle’s Brazil Developer Bets on Fresh Leaders to Woo Creditors

9/17/17

A Brazilian land developer controlled by U.S. buyout firm Carlyle Group LP (CG.O) investment vehicles has appointed turnaround specialist Ivix Value Creation to help it reverse mounting client lawsuits and avoid filing for bankruptcy protection.

São Paulo-based developer Urbplan Desenvolvimento Urbano SA named Ivix partner Alberto Tepedino chief executive officer and appointed another partner, Nelson Bastos, to a key advisory position this week, Tepedino and Bastos said.

The move is intended to help Urbplan find a way to avoid restructuring a pool of asset-backed securities and credit worth 450 million reais ($144 million) and recover from a period of weak housing activity, they said.

READ FULL ARTICLE HERE

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.