XP sets up private equity fund

XP sets up private equity fund

Funds Equity M&A Argentina

Brazil's XP Inc. said it will create a BRL1.25 billion ($294 million) private equity fund to invest in local mid-sized companies. The brokerage firm has hired Chu Kong, a former partner at the British emerging markets investor Actis, to lead the fund, according to a securities filing. XP announced its plans for a new fund a week after it filed for an initial public offering (IPO) on the Nasdaq exchange in New York in December. XP had BRL699 million in net income and BRL3.7 billion in revenue in

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