Private equity recorded BRL 108.4 billion in Brazil in 2012. That is what the unprecedented technical study, being carried out by the Center for Studies in Private Equity and Venture Capital (GVcepe) of São Paulo School of Business Administration (FGV/EAESP), in partnership with the Institute of Applied Economic Research (Ipea), indicates.According to the survey, Brazil totaled, at the end of 2012, more than USD 53 billion (BRL 108.4 billion) of capital committed to equity interest investments - of which more than USD 33 billion were represented by investments above USD 500 million, according to the 2010-2012 Private Equity and Venture Capital Ecosystem Outlook in Brazil.Still according to the study, annual investments jumped from USD 6.4 billion in 2008-2009 to USD 21.2 billion during the period of 2010-2012. The same evolutionary line includes the rates of return analyzed for the first time in an aggregate form in the history of Brazilian private equity and venture capital industry. Still in the three year period covered by GVcepe's study, the sample's average internal rate of return, before taxes, stood at 23%, with a standard deviation of 34%.We observed an evolutionary process of sustainable funds for medium and large enterprises and the expressive entry of players in venture capital and early Stage, as well as the record of more than 720 companies invested by these funds. Those who have joined this industry for more than seven years have already gained scale; newcomers came along to occupy opportunity niches, many of them international funds, evaluate, in a note, professors Cláudio Furtado, GVcepe's director, and Marcelo Fernandes, technical director of research.According to them, the results presented by managers in Brazil have encouraged both the scale of investment funds that operate in the country and the number of industry participants.The study was published in Exame magazine.