Sam Zell Fund invests US$ 58 million
Valor Econômico
The investment fund Equity International (EI), of ownership of the American billionaire Sam Zell, announced yesterday that invested US$ 58 million in GuardeAqui, a private company of furniture and other products, such as clothing and wines, storage based in São Paulo. "EI is regularly at the forefront of new markets and industries. GuardeAqui is another new market we are entering", said Gary Garrabrant, chief executive of the fund, in a statement issued yesterday. "We are extremely optimistic about the business opportunities that GuardeAqui can generate in the long term", he added. In Brazil, the sector of furniture storage, according to EI, is small, little professional, characterized by the lack of competition and little capital for significant growth. In the U.S., the sector has nearly 50 thousand furniture storehouses and proved to be a business resistant to the crisis. GuardeAqui was founded in 2006 and says it is the leader in the leasing of space for furniture storage in the country. The company has three units in São Paulo. With the investment, Equity International now has six companies in its portfolio in Brazil, including participation in Gafisa developer and in the company of shopping malls BR Malls. Internationally, the company has participation in several other companies, including the chain NH Hoteles, of hotels. The fund did not inform which participation will have at GuardeAqui.