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Viewing cable 07BRASILIA103, BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND

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Reference ID Created Released Classification Origin
07BRASILIA103 2007-01-19 16:44 2011-07-11 00:00 UNCLASSIFIED Embassy Brasilia 
VZCZCXRO3122
RR RUEHRG
DE RUEHBR #0103 0191644
ZNR UUUUU ZZH
R 191644Z JAN 07
FM AMEMBASSY BRASILIA
TO RUEHC/SECSTATE WASHDC 7896
INFO RUEHRG/AMCONSUL RECIFE 6130
RUEHRI/AMCONSUL RIO DE JANEIRO 3727
RUEHSO/AMCONSUL SAO PAULO 9046
 
UNCLAS BRASILIA 000103 
 
SIPDIS 
 
SIPDIS 
 
STATE PASS OPIC FOR B.MCGUIRE AND A.PATEL 
STATE FOR EB/IFD/OIA 
 
E.O. 12958: N/A 
TAGS: EINV ECON BR
SUBJECT: BRAZIL: OPIC SUPPORT FOR INVESTMENT FUND 
 
REF: 06 STATE 201751 
 
1.  Post supports OPIC's planned investment in Paladin Realty LP 
Fund, which will assist in the development of affordable and 
middle-income housing in Brazil (reftel).  Recent changes to 
Brazilian legislation have encouraged substantial growth in the real 
estate and construction sector.  These changes have brought new 
financing to the sector and have allowed significant recent 
issuances of mortgage-backed securities.  This high growth comes 
from a relatively low base, however, so there is still need for 
additional capital.  Moroever, given Brazil's modest domestic 
savings rate and its overall investment needs, there clearly is a 
useful role for external financing to play in supplementing domestic 
funding sources. 
 
2. Paladin is not very well known in the Brazilian real estate and 
construction sector, although representatives of its local partner, 
Even Construtora, spoke very highly of them to us.  An independent 
real estate industry group with whom we spoke had no knowledge of 
Paladin, but noted that Even Construtora is a well-regarded market 
leader in the Brazilian real estate and construction sector. 
 
SOBEL