Alceda partners with AFINA to grow in Latin America
Alceda Fund Management, the independent structuring specialist, has partnered with Philadelphia, US based AFINA Holdings to grow its business in Latin America.
AFINA is focused on the region, where Alceda sees significant growth potential over the next decade, with some estimates that assets under management could hit $4trn by 2020. Alceda cites World Bank figures suggesting that the middle class population in the region has risen by half to some 150 million people in the past 10 years.
Michael Sanders, chairman of the board at Alceda, said: “Investors from Latin America are becoming increasingly sophisticated and are seeking proven strategies with better returns than they can get in their local markets. They are now looking beyond their own region towards Europe, the US, Africa and Asia.”
“For many Latin American investors, their key investment concerns are the transparency of the manager and that manager’s investment strategy, liquidity and ease of access to their investments. Through our partnership with AFINA, we are able to offer these investors access to Luxembourg domiciled funds, especially UCITS approved funds.”
“We expect the Latin American institutional market, especially the public pension funds, to continue to invest aggressively in Luxembourg.”