Gavea Investimentos PE Head Meyn Resigns

Sep 3 2015 | 2:40pm ET

Chris Meyn has stepped down as private equity chief at Brazilian firm Gávea Investimentos.

The departure comes several months after the firm closed its fifth fund vehicle at $1.1 billion last December, according to an article in PE Hub. Meyn's immediate plans were not known, although he plans to remain in the financial sector, noted the article. 

Meyn reportedly stepped down in order to spend more time with his family, and characterized the departure as amicable. Amaury Bier, a partner at the firm, will lead the private equity group going forward. 

Meyn launched Gávea’s private equity business when he joined the company in 2005. Beforehand, he consulted to alternative investment managers and was with Latinvest Asset Management from 1997 to 2002.

Gávea was founded by former Brazilian central bank president Arminio Fraga and Luiz Henrique Fraga in 2003. JP Morgan acquired a stake in the firm in 2010 and eventually bought the whole thing, although it is now in the process of selling it back to Gávea management. 

The company closed its Gávea Investment Fund V last year, raising approximately $1.1 billion. It came in under the $1.9 billion raised for the firm’s fourth fund and essentially flat compared to the company’s 2008-vintage third fund. 

The Gávea Group, of which Gávea Investimento is a part, concentrates on hedge funds, private equity, equity funds and real estate activities. It had assets under management of around $5.1 billion as of July 2015, down from more than $7 billion in 2013. 

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