March 4, 2024

Brighton Journal

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According to Forbes magazine, three American investment funds are competing to hire Sergio Massa

According to Forbes magazine, three American investment funds are competing to hire Sergio Massa
According to Forbes magazine, three American investment funds are competing to hire Sergio Massa

Sergio Massa, According to Forbes magazine, three US investment funds are focused on hiring Argentina’s current economy minister and former presidential candidate.

“This interest arises against a backdrop of significant changes in Argentine politics and emerging markets in Latin America,” the North American publication points out.

“Renaissance Fund, a new venture from Greylock Capital Management, an emerging markets hedge fund based in Stamford, Connecticut, has expressed particular interest in Massa. According to a source close to the matter, the former minister may join the scheme, which focuses on investments in Latin America, excluding Argentina for ethical reasons,” He pointed out.

Hans Humes, Greylock’s CEO commented on Massa: “We think he will be a great addition for us.” Humes and Massa have known each other since 2017 when they discussed the political situation in Argentina and the resolution of the case against the country. “We know other companies are talking to him about future opportunities, but given the unique structure of our fund, we believe it’s a good fit for someone of his caliber,” he said.

According to his spokesmen, “Sergio Massa is preferred by two more funds. However, they clarified that “he is currently undergoing an organizationally orderly transition, as he will remain a minister until December 10.”

Hans Humes, CEO of Greylock Capital Management LLC

Forbes recalled, “Massa, who was defeated in the recent presidential election by a coalition of expatriate Javier Mille and an established right-wing party, has had a notable political career in Argentina. He served as head of the Cabinet of Ministers in 2008 and as mayor of Tigre, a municipality in Buenos Aires. In addition, he founded his own centrist party, Frente Renovator, in 2013. established in

“In 2022, he was invited by President Alberto Fernandez to run the “super ministry” of the economy amid the economic crisis. During his tenure, he strove to reform the fiscal regime, maintain a trade surplus, strengthen foreign exchange reserves, promote inclusive growth and reduce inflation,” he said.

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“The Revival Fund will focus on investments in energy, agriculture and infrastructure across Latin America. It will begin with existing positions in debt related to companies in the region, which will give it the ability to work on debt-to-equity transactions. It will also be structured to provide private debt and private equity financing,” he said.

In this regard, Humes clarified: “The focus will be on helping developing economies manage the significant challenges faced by Latin American economies in recent years, with a special focus on ESG issues.” Sometimes, “the fund will facilitate debt restructuring at a corporate or sovereign level, the latter being a Greylock specialty.”

Forbes pointed out, “Latin America, known as a manufacturing hub for key raw materials, offers great potential for investment. Countries such as Argentina, Brazil and Uruguay are agricultural powerhouses; Chile, Argentina and Bolivia, with more than half of the world’s lithium reserves, are critical to the green transition; and Venezuela, Guyana, Brazil and Several countries, including Ecuador, are among the top countries with the largest oil reserves.”

However, he clarified, “The region has yet to reach its full potential, and often political challenges must be carefully navigated. The political situation in Latin America is a significant obstacle to economic growth, requiring strategic and careful management of investors and funds interested in the region.

“The addition of Sergio Massa to a fund like Renaissance represents not only a significant change in his career, but also a reflection of the growing importance of Latin America in the global economic environment. As Massa ends his term as Argentina’s Minister of Economy, his experience and knowledge of the region will help him move into Latin America’s emerging markets. That makes him an attractive candidate for investment funds,” he concluded.

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