• After a year of extensive negotiations, Advent International and the shareholders of Alianza Fiduciaria today announced the initial phase of their strategic alliance.
• Advent International, one of the largest and most experienced firms dedicated solely to private equity will acquire a 50% stake in Alianza Fiduciaria, the leading independent trust and asset management company in Colombia with more than 27 years of experience.
• With the strategic alliance, Advent will support Alianza Fiduciaria’s successful growth strategy through its global experience and strong regional presence in Latin America.
• Advent International, with more than 29 years of private equity experience, focuses on buyout and strategic repositioning transactions across multiple sectors worldwide. In the financial services industry, Advent has invested more than US$5 billion in 38 companies globally, of which 12 are in Latin America.
Bogotá, June 19, 2013 – After a year of extensive negotiations, Advent International, one of the largest and most experienced firms dedicated solely to private equity with more than 29 years of experience, and Organización Delima, a firm with more than 60 years of experience with success in insurance brokerage and financial services among other sectors, today announced a strategic alliance.
The agreement to acquire 50% of Alianza Fiduciaria, subscribed today, represents the first step of the process by which Advent International will become a shareholder in Alianza Fiduciaria and Alianza Valores.
This agreement will support the continued growth of these two leading companies in the financial services sector in Colombia. Additionally, it will strengthen Alianza Fiduciaria’s position both domestically and regionally, given Advent’s presence in Latin America, expertise in the financial sector, global scope and financial strength. For example, Alianza Fiduciaria will now have access to Advent’s market intelligence and valuable business networks.
“Achieving this agreement with Advent is an important step toward strengthening Alianza Fiduciaria’s presence in the Colombian market, and it also opens the opportunity to expand regionally in the near future,” said Ernesto de Lima, President of Organización Delima. “Our new partnership with an investor that has such a successful track record is very important for our country and our industry, especially our clients and employees, who will be able to benefit from the expertise that Advent brings to the table. Additionally we are pleased to announce today that we begin this new venture with the potential to incorporate Alianza Valores to this partnership in a second phase that is currently under advanced negotiations.”
The closing of the Alianza Fiduciaria transaction is subject to the ordinary conditions set forth in such contracts, including, in particular, the approval by the local financial regulator Superintendencia Financiera de Colombia.
“At Advent International, we invest in companies poised for high growth with superior operating, ethical and administrative standards,” commented Mauricio Salgar, Managing Director at Advent International in Colombia. “Our experience over the past 29 years, in addition to our global footprint, comprising over 170 investment professionals across four continents, allows us to add value in supporting the business strategy of the companies in which we invest. We recognize Alianza Fiduciaria’s solid business model and talented workforce with whom we will work to take this partnership to the next level. We are pleased to have joined forces with such a well-regarded and successful partner as Organización Delima. This agreement reinforces Advent’s commitment to investing in Colombia and supporting growth in sectors where we have ample experience both regionally and globally.”
About Organización Delima:
Organización Delima is a local investment group founded by well-respected Colombian businessmen who have participated for more than 60 years in the creation and development of different enterprises in a range of sectors in Colombia and the surrounding region. The group has gained recognition for developing successful partnerships with global firms such as Marsh, a partner with which it maintained a relationship for more than 50 years in creating one of the leading insurance brokerage platforms in Latin America, Delima Marsh S.A.
About Alianza Fiduciaria S.A.:
Alianza Fiduciaria is a leading Colombian trust company with more than 27 years in the sector. It manages more than 2,500 trusts with approximately US$9 billion in assets under custody and 12 different asset management alternatives including mutual funds and private equity funds. Alianza Fiduciaria has an M1 local rating by Fitch Ratings de Colombia S.A. and Calificación Nacional de Administradores de Activos de Inversión, and an AA+ rating by Value & Risk in counterparty risk. It is a member firm of Organización Delima, its founder and current shareholder.
About Advent International:
Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has raised $37 billion and invested in more than 280 buyout transactions in 36 countries, achieving over 210 full or partial exits. With offices on four continents, Advent has established a globally integrated team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on growth and traditional buyout and strategic repositioning transactions across five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecoms. After 29 years dedicated to international private equity, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for portfolio companies.
Advent has actively contributed to the development of the financial services sector globally and across Latin America. Over the past two decades, the firm has invested more than US$5 billion in 38 financial services companies worldwide, including 12 in Latin America. Its current Latin American investments in the sector include Invercap Holdings, the largest independent mandatory pension fund administrator in Mexico. Previous investments include Cetip, the largest central depository and trading platform for private fixed-income securities and over-the-counter derivatives in Latin America; Nuevo Banco Comercial, one of Uruguay´s largest private banks; J. Malucelli Seguradora, Brazil´s leading surety bond provider; and Banco Paraná, a leading consumer credit bank in Brazil, among other important companies.
In Latin America, Advent has offices in Mexico City, Mexico, São Paulo, Brazil and Bogotá, Colombia. The Bogotá office opened in 2011 and focuses on investments in the Andean Region and Central America, targeting high-growth sectors where the firm has deep expertise, including financial services, pharmaceuticals, retail, energy and services for the mining and oil and gas industries.
For more information, please visit www.adventinternational.com.
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