Wall Street banks are positioning themselves to profit from the US ousting of Venezuela’s leader Nicolás Maduro, betting regime change could eventually unlock tens of billions of dollars in investment related to energy and infrastructure in the South American nation.
Lenders have been talking to consultants and bankers about the funds needed to unlock Venezuela’s vast oil reserves and restore its ailing infrastructure, with the private sector expected to play a key role in rebuilding the country.
“The initial reaction has been one of cautious optimism,” said Charles Myers, chair of Signum Global Advisors, who is taking a group of executives from oil and gas companies, banks and hedge funds to Caracas in March. “It’s not just in oil and gas. This is a country that has to be reconstructed,” he added.