Cordiant Capital Fund Wary of Brazil’s “White Elephants”

“There will be massive investment [tied to the 2014 World Cup and the 2016 Olympic Games], and a lot of it will be investment that is needed regardless, but there might also be projects that wouldn’t have gone ahead otherwise, because they are not dealing with a fundamental unsatisfied need,” said Evan McCordick, a managing director at Montreal-based Cordiant Capital. “We’d be particularly careful about (those projects).”

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