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June 28, 2021

XP picks stake in Brazilian alternative investment manager Jive

By Johney Amala

XP, which offers financial products and services in Brazil, has acquired a minority interest in Jive Investments for an undisclosed discount.

The investment is part of XP’s initiative to support independent asset managers in Brazil within an entrepreneur-friendly ecosystem.

At present, Jive has more than 1,300 investors in Brazil and manages around BRL8bn in assets, BRL21bn in face value.

The partnership with XP will allow the firm to accelerate its growth and originate and distribute assets directly or through around 9,000 IFAs plugged into XP’s network.

Jive is looking to foray into the retail channel and is extending its investment offerings into products with lower risk and complexity profiles for an expanded reach.

Jive partner Guilherme Ferreira said the firm is also planning to increase investments in technology, expand origination and distribution channels, strengthen the team, as well as to capitalise on opportunities to acquire other managers and platforms that are complementary to its business.

The company’s initial product development initiatives will focus on high yield credit, real estate, and legal assets.

Jive plans to offer a more complete and integrated investment platform in alternative and illiquid assets, with differentiated products for investors.

Moreover, management is planning on expanding the company’s offering of asset management, collection, and recovery services to third parties, including banks, pension funds and large companies.

Commenting on the development, XP partner Leon Goldberg said: “Jive is a leading player in alternative investments in Brazil. Our vision is to offer our clients a complete investment ecosystem through partnerships with the best managers in the market, such as Jive.”

The transaction, which is subject to approval by Cade, will have no effect on governance and independence of both companies.

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