KKR partners with Itaú AM to offer investors in Brazil access to private markets
Itaú Asset Management and KKR have formed a strategic partnership to expand private market investment opportunities to investors in Brazil through co-branded investment products.
Itaú and KKR will work together to develop and offer alternative investment solutions for institutional and private wealth clients across private market asset classes.
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Under the agreement, KKR will serve as the preferred global alternative asset manager partner for Itaú, and Itaú will become the preferred Brazilian asset manager partner for KKR.
Itaú Asset Management, which is fully owned by Itaú Unibanco, Latin America’s largest bank, manages $198bn (£145.8bn) in assets, while private markets investor KKR has assets under management of $664bn across alternative asset classes, including private credit and real assets.
Through the partnership, Itaú will be able to market KKR’s product offerings and collaborate on private market investor educational materials.
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KKR’s commercial and investment expertise will help Itaú Asset Management as it continues to grow its private markets platform in the region.
In addition, KKR will introduce Itaú to its global network of institutional investors interested in Latin America, with a view to fostering new relationships and investment opportunities.
The agreement also gives both firms the option to partner up in co-investments opportunities.
“We look forward to expanding private market investment opportunities for investors in Brazil with Itaú Asset Management in a market that is relatively new to KKR, as well as enhancing international investor access for alternative investment solutions,” said Eric Mogelof, partner and head of global client solutions at KKR.
“There is significant growth potential for the internationalization of the portfolios of Brazilians as historically most capital has been invested domestically, with international alternatives being notably underpenetrated,” added Carlos Augusto Salamonde, partner and head of global asset management at Itaú.
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