Advent hires advisers to expand investments in loyalty plans

Mon Mar 2, 2015 2:04pm EST
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SAO PAULO, March 2 (Reuters) - Advent International Corp hired on Monday two executives to advise the Boston-based private-equity firm on finding and assessing potential investments in the customer loyalty plan and marketing industries globally.

The firm hired Jeremy Rabe, former chief executive officer of Aeromexico-AIMIA joint venture Premier Loyalty & Marketing, as an operating partner, and Livia Masnaghetti as an industry advisor, a statement said. Masnaghetti was a former advisor to Aeroplan on its spin-off from Air Canada.

Both hirings come as Advent's retailing, business and financial services teams try to identify acquisition opportunities in loyalty and marketing services: two sectors undergoing rapid growth in Latin America. In recent years, two Brazilian airlines spun off loyalty plan companies Multiplus SA and Smiles SA to list them in São Paulo.

With their assistance, "we plan to apply our expertise in the retail and business and financial services sectors to find and secure attractive investments in these areas," said Chris Egan, a managing director at Advent, said in the statement.

Advent has identified several opportunities in Latin America, Mario Malta, a São Paulo-based managing director for Advent, said in the statement. he sees significant spin-off potential in a number of industries from aviation to retail.

Buyout firms are looking for acquisitions in Latin America after a recent market rout and a wave of currency declines left potential targets attractive. Private equity and venture capital firms in the region likely raised last year the most money from investors since 2011, industry group Lavca said last year.

As of September, Advent had $31 billion in assets under management. (Reporting by Guillermo Parra-Bernal; Editing by David Gregorio)