Compass Group is ramping its LatAm operations with the opening of a new office in Brazil, offering a range of third-party products to institutional, intermediary and family office clients.
Compass currently has offices all through Latin America, including Chile, Colombia, Argentina and Mexico, and oversees $38bn of assets under management through their own funds and third-party products.
The group plans to offer both mutual funds and liquid alternative strategies to investors in Brazil. It is also planning to bring analysts from Chile over to work in its São Paulo office as part of its research and asset management unit.
Among the asset managers Compass has deals with to distribute its funds in Latin America are Investec and Wellington Management.
"We see the Brazilian market as a huge opportunity. That is why we have decided to offer investors in this market our own as well as third party funds. Brazil is a key market in the region for the size of its economy and capital markets," Compass Group chief executive, Jaime Martí, said in a statement.
At the end of 2017, Compass Group's Ucits platform had more than doubled in size in the space of a year to over $2.3bn.