Cleary Gottlieb represented Votorantim S.A. (Votorantim) in connection with the formation of a co-investment vehicle with Temasek Holdings (Private) Limited (Temasek) and its affiliates to invest up to $700 million in growth equity in Brazil.
The vehicle will be managed by 23S Capital, an asset management company formed by Votorantim and Temasek’s former executives in Brazil.
Votorantim is one of Brazil’s largest industrial conglomerates, with activities across various sectors, including cement, metals and mining, energy, and finance, among other investments.