JPMorgan Confirms Gavea Buy

JPMorgan Confirms Gavea Buy

Brazil M&A

JPMorgan has announced the acquisition of Gavea Investimentos, after several weeks of speculation in the local press. JPMorgan will take a 55% stake in Brazil’s $6bn alternative asset management company through its Highbridge Capital division, which was acquired under a similarly structured agreement in 2004. Under the terms of the deal, Gavea’s founder, chairman and CEO Arminio Fraga, is expected to stay on for 5 years. Fraga had previously served as Brazil’s central bank head. “Our alliance wi

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial