BLOOM/ Rio has lured at least two dozen hedge funds in the past decade, the nation’s leading oil producers, the 2014 World Cup and the 2016 summer Olympics.“It’s in the midst of a major transformation,” said Christopher Palmer of London's Gartmore. “Rio has come back into the fold because of the Olympics and the development of the oil and gas industry.” “It’s becoming a virtuous cycle,” said Carlos Langoni, a former central bank president and finance chief of the organizing committee for the 2014 World Cup soccer games. “They’ve pacified favelas you would’ve thought were impossible to occupy. Real estate prices have surged, Rio’s seeing more royalties from oil production and it finally has good politicians.” Property values have risen as much as 47% in a year, while homicides have fallen 31% in May from a year earlier to a record low of 363. Vehicle theft is down 30 % and robberies of pedestrians fell 12%.
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