FINANCIAL TIMES/BRAZIL CONFIDENTIAL: Private equity: Full steam ahead in Pernambuco

The historic centre of Recife once seemed doomed. The city’s raison d’etre – its port – was supplanted in the 1970s by the development of new deepwater facilities at Suape to the south. And over the next couple of decades residents moved nearer to job opportunities in the suburbs, triggering a spiral of social and economic decay.

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