Kushner's Firm Invests $200M in Zamp, Targets Starbucks Deal

Key Takeaway

• Jared Kushner's Affinity Partners invests $200 million in Brazilian fast-food operator Zamp SA, marking its first venture into Latin America.
• Asad Naqvi from Affinity and Santiago Jariton from Emerging Variant Capital Management join Zamp's board, indicating strategic growth plans.
• Zamp SA explores acquiring Starbucks representation rights in Brazil, showcasing ambitious expansion efforts in the fast-food sector.

Strategic Investment

Jared Kushner's Affinity Partners has made a significant move in the Brazilian market by investing approximately $200 million in Zamp SA, a leading fast-food operator in Brazil. This investment marks Affinity Partners' first known venture into Latin America since its inception after Kushner's tenure in the White House. The involvement of Affinity Partners with Zamp SA underscores the firm's strategic interest in expanding its portfolio into new, promising markets, leveraging Kushner’s global connections to facilitate such investments.

Board Expansion

Following the investment, Asad Naqvi, a partner at Affinity, has been elected to Zamp SA's board during a general shareholders assembly. Alongside Naqvi, Santiago Jariton, the chief investment officer at Emerging Variant Capital Management, joins as a new investor representative on the board. This expansion of the board with figures from significant investment entities like Affinity Partners and Emerging Variant Capital Management indicates a broadening of Zamp SA's strategic oversight, potentially steering the company towards new growth avenues.

Mubadala's Continued Influence

Mubadala Capital, the investment arm of the Abu Dhabi sovereign wealth fund and a controlling stakeholder in Zamp, has retained Leonardo Yamamoto as chairman while adding two other executives, including Brazil country head Oscar Fahlgren, to the board. Mubadala's decision to maintain a strong presence on the board through strategic appointments reflects its ongoing commitment to Zamp SA's growth and operational success. With a 58% ownership stake, Mubadala's influence is pivotal in shaping the company's future direction.

Expansion and Growth Prospects

Zamp SA, with over 1,000 Burger King and Popeyes restaurants in Brazil, is in discussions to acquire the rights to represent Starbucks Corp. in the South American country. This potential expansion into representing Starbucks highlights Zamp SA's ambition to diversify and strengthen its portfolio within the fast-food and casual dining sectors. The company's growth trajectory is further supported by its significant stakeholders, including Restaurant Brands International Inc., which holds a 9% stake, indicating a collaborative effort towards scaling operations and enhancing market presence.