NEW YORK, May 5 (Reuters) - Michael Novogratz of Fortress Investment Group said on Monday that Brazilian assets could rally if President Dilma Rousseff loses her bid for re-election later this year.
Novogratz, speaking at the Sohn Investment Conference in New York, said Brazil “is in for a long dark period” if Rousseff wins.
He said that Rousseff’s two main rivals could instead be more market friendly.
Novogratz is a principal and director of Fortress Investment Group.
The race for Brazil’s October presidential election has tightened, according to a poll released on Saturday that also showed high disapproval for Rousseff and widespread dissatisfaction with the stagnant economy.
Reporting by Luciana Lopez, Sam Forgione and Rodrigo Campos; Editing by Chizu Nomiyama