UBS signs partnership to offer real estate investments in Brazil

BRASILIA, Oct 10 (Reuters) - Swiss bank UBS Group AG signed a partnership with Brazilian real estate consultancy Real Estate Capital (REC) to tap growing demand by institutional investors for opportunities in Brazil’s property market, UBS said on Monday.

The partnership will be led by Moise Politi, the former chief executive and co-founder of Brazilian Finance & Real Estate SA (BFRE), and will focus primarily on the cities of Rio de Janeiro and Sao Paulo through UBS’s Global Real Estate business.

“We continue to see a growing interest in alternative assets from institutional investors globally. We have identified strong demand for Brazilian property investment strategies and are pleased to be expanding our leading global real estate capabilities to meet the needs of our clients,” Ulrich Koerner, president of UBS Asset Management, said in a statement. (Writing by Silvio Cascione; Editing by Bernadette Baum)