11 May 2014
Brazilian aerospace company Embraer announced on May 7 plans to launch a BRS131 million (USD59 million) private equity fund for the aerospace sector alongside a number of state entities.
The aerospace investment fund (Fundo de Investimento em Participações – FIP), the first in Latin America, will be jointly financed with state development bank BNDES, the São Paulo State Development Agency (Desenvolve SP), and FINEP, a federal government-funded research and development institution.
The initiative, launched at the BNDES headquarters in Rio de Janeiro, aims to strengthen the aerospace and aviation defence and security supply chain and promote the integration of systems related to these industries through support for small and medium businesses.