(Bloomberg) — Vinland Capital, a Brazilian hedge fund founded by former Goldman Sachs Group Inc. partner Andre Laport, is planning to open an office in New York, according to people familiar with the matter.
The fund, which already has US institutional clients, is considering ways to deepen its relationship with those investors, said the people, who asked not to be identified because the information isn’t public. Vinland has about 14 billion reais ($2.8 billion) under management, according to Anbima, Brazil’s capital-markets association.
Vinland joins other Brazilian hedge fund shops that have been seeking ways to boost their international footprint. Kapitalo Investimentos Ltda. said last year it was planning to open a New York office, while SPX Capital has been in the US since 2017.
Read More: Hedge Fund Kapitalo Plans to Open Office in New York
At home, Brazilian hedge funds have been grappling with a record wave of redemptions as high interest rates curb locals’ appetite for riskier products.
Vinland was founded in 2018 by Laport, the first Brazilian to become a partner at Goldman Sachs, and James Oliveira, formerly one of Banco BTG Pactual SA’s controlling partners.
©2024 Bloomberg L.P.