Key Takeaways
- • Itaú Unibanco is acquiring a 35% stake in Brazilian alternative asset manager Prisma Capital, according to a Bloomberg report, expanding the bank's exposure to special situations and credit strategies.
- • Prisma manages approximately BRL28bn ($5.6bn) across private and public equities, credit, real estate, distressed companies and claims, with investors including domestic and international institutions and family offices.
- • The investment will reportedly be made through preferred shares; Prisma's existing partners retain the remaining 65% of capital and all voting shares, and no existing partners are selling.
- • Financial terms were not disclosed, and completion is subject to approval from Brazil's antitrust regulator and central bank.
- • Proceeds are intended to expand Prisma's investment capacity and fund the creation or acquisition of platforms that originate assets for its funds.
Summary
Itaú Unibanco is acquiring a 35% stake in Prisma Capital, the São Paulo-based alternative asset manager, according to a report by Bloomberg. The deal expands Itaú's exposure to special situations and credit strategies. Financial terms were not disclosed.
The investment will reportedly be made through preferred shares. Prisma's existing partners will retain the remaining 65% of capital as well as all voting shares, and none of them are selling shares in the transaction. Completion is subject to approval from Brazil's antitrust regulator and central bank.
Founded in 2017, Prisma manages approximately BRL28bn ($5.6bn) across private and public equities, credit, real estate, distressed companies and claims. Its investor base includes domestic and international institutions and family offices. The firm also invests in structured credit funds known as FIDCs, which acquire receivables including payroll-linked loans, and in technology platforms that originate credit.
According to the report, the proceeds will increase Prisma's investment capacity and support the creation and acquisition of platforms that originate assets for its funds.
The investment will reportedly be made through preferred shares. Prisma's existing partners will retain the remaining 65% of capital as well as all voting shares, and none of them are selling shares in the transaction. Completion is subject to approval from Brazil's antitrust regulator and central bank.
Founded in 2017, Prisma manages approximately BRL28bn ($5.6bn) across private and public equities, credit, real estate, distressed companies and claims. Its investor base includes domestic and international institutions and family offices. The firm also invests in structured credit funds known as FIDCs, which acquire receivables including payroll-linked loans, and in technology platforms that originate credit.
According to the report, the proceeds will increase Prisma's investment capacity and support the creation and acquisition of platforms that originate assets for its funds.
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