RT Journal Article SR Electronic T1 Private Equity in Brazil JF The Journal of Private Equity FD Institutional Investor Journals SP 74 OP 87 DO 10.3905/jpe.2005.605373 VO 9 IS 1 A1 Frédéric Rozeira de Mariz A1 José Roberto Ferreira Savoia YR 2005 UL https://pm-research.com/content/9/1/74.abstract AB This article analyzes the evolution of the private equity and venture capital industries in Brazil, using the U.S. market as an ideal type. The main challenges faced by this sector in Brazil are the volatility of the economy, a lack of seed capital, and the illiquidity of capital markets, which make exit strategies through initial public offerings problematic. On the other hand, the decreasing level of real interest rates and the recent changes in the regulatory framework are the two main factors that bode well for the future growth of the sector. As a result, the authors believe Brazil will become one of the most important markets for private equity by the end of the decade