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November 17, 2021

Brazil’s XP pick minority interest in asset manager Vista Capital

By Johney Amala

Brazilian broker XP has acquired a minority interest in Brazil-based equity and hedge funds manager Vista Capital.

Financial terms of the deal were not disclosed.

Vista Capital, which has over R$4.5bn in assets under management (AuM), was founded by Rio de Janeiro in 2014.

The deal forms part of XP’s strategy to build out an ecosystem of managers and distributors in Brazil.

Announcing the deal, XP said in a statement: “Vista has a solid performance track record in hedge funds and equity funds, with its flagship fund Vista Multiestratégia FIC FIM yielding 444% since inception and net of fees, against 68% of its benchmark.

“Both teams expect that, along with Vista’s ability to further develop new products, it can grow its AUM, and benefit both the asset manager and our funds platform.”

In June this year, XP purchased a minority interest in Jive Investments as part of its initiative to support independent asset managers in Brazil within an entrepreneur-friendly ecosystem.

The same month, the firm agreed to acquire a minority stake in local quantitative investment manager Giant Steps.

The latest deal is said to be XP’s ninth acquisition involving an asset manager since 2020.

In September this year, Guilherme Decca and Andre Ikeda, two former trading executives at Nomura’s securities unit, set up a multifamily office in the US to serve wealthy families in Sao Paulo and focus on investments in the US.

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