US investment fund Silver Lake plans to invest US$1bn in Brazilian IT companies over the next five years, according to local newspaper Valor Econômico.
A spokesperson for Silver Lake declined to confirm any details from the Valor story when contacted by BNamericas. The newspaper derived its article from a presentation Silver Lake chairman David Roux gave at the Super Returns conference.
Valor reported that Roux called Brazil "the highest priority" for the tech-focused investment fund.
Silver Lake entered the Brazilian market last year by purchasing a 20% share of Brazilian webhosting and cloud computing services provider Locaweb. Now, the firm intends to open an office in São Paulo.
According to Valor, Silver Lake will focus on data storage, video game, telecommunications and software companies.
Silver Lake has US$14bn in active investments, including a majority ownership in Skype. The fund was founded in 1999.