Brazil emerges as the new El Dorado


Assets are surging and good performance is attracting brave U.S. and European investors

By Barry Cohen

Think of San Paulo or Rio de Janeiro and you would be forgiven if hedge funds did not flash into your mind. Beaches, yes. Soccer, certainly. But hedge funds? Surely not. Well, a small band of investors, like the early Portuguese explorers who discovered the hidden riches of this vast country, are starting to believe that the Latin American hedge fund boom, led by Brazil, is worth checking out.

From a low base of only $1