Private equity firm Carlyle Group [CYL.UL] plans to open an office in Lima and start investing in Peruvian companies through a joint venture it announced on Friday with Peru's largest financial holding company, Credicorp Ltd (BAP.LM) (BAP.N). Private equity firms have been attracted to South America, particularly markets such as Brazil, lured by higher growth rates than the U.S. D.C.-based Carlyle said the joint venture would target growth capital and buyout investments in sectors including consumer and retail, healthcare, education and logistics. Those sectors are benefiting from the growth in Peru's middle class, Carlyle said in a press release.
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