General Atlantic Completes Investment in XP Investimentos
General Atlantic is pleased to announce a R$356 million ($171 million) investment in XP Investimentos (“XP”), one of the leading independent broker-dealers and financial supermarkets in Brazil, for a minority stake in the company. The investment is dependent on regulatory approval by the Brazilian Central Bank (“Banco Central do Brasil”).
“We are very excited for the opportunity to partner with General Atlantic. This is an important step in the history of XP as GA will be instrumental in helping us achieve our strategic objectives. GA understands XP’s value as a financial supermarket, allowing Brazilians a new way to invest,” said Guilherme Benchimol, CEO and co-founder of XP Investimentos. “GA brings deep knowledge of financial services and technology and a long history of helping companies grow. We look forward to a strong partnership.”
“Brazil will be transformed by a new era of lower interest rates and the development of the Brazilian investor class, which will increasingly turn to independent players for high quality financial advice. We have been inspired by XP’s vision, focus on the customer, and entrepreneurial spirit. We believe that XP will lead the development of the retail asset management industry and positively change the way Brazilians invest,” said Martin Escobari, Managing Director of General Atlantic and Head of the firm’s Latin American investment program. General Atlantic plans to support XP with capital and strategic advice, further developing its platform of financial products to solidify its position as the leading financial supermarket in Brazil.
XP Investimentos has grown exponentially from a start-up independent financial advisory shop in 2001 to become one of the largest retail broker-dealers and independent providers of investment advisory services to Brazil´s retail investors with a network of 390 offices. Through institutional client teams in Sao Paulo, Rio de Janeiro, and New York, XP also serves as a full-service broker-dealer, offering equities, derivatives, and fixed income trading, proprietary liquidity sourcing, low latency and electronic trading, research, as well as corporate finance and advisory services.
About XP Investimentos
XP Investimentos is the leading independent broker-dealer and financial supermarket in Brazil, providing an array of financial products and services to individuals and institutional clients. Through a network of more than one thousand independent financial advisors located in 390 offices nationwide and through its online platform, XP’s clients have access to equity trading, fixed income trading, mutual funds, pension funds, insurance, and an array of other financial products. XP also serves as a full-service broker-dealer, serving local and international institutional clients through institutional client teams in Rio de Janeiro, Sao Paulo, and New York. XP also commands the largest financial education program in Brazil, with over 500 thousand students having attended XP courses and seminars.
For further information, see www.xpi.com.br
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. GA combines a collaborative global approach, sector specific expertise, long-term investment horizon and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. Established in 1980, GA manages approximately US$17 billion in capital (comprised of both total committed capital and portfolio investments) and has more than 70 investment professionals based in Greenwich, New York, Palo Alto, São Paulo, London, Munich, Hong Kong, Beijing, Singapore and Mumbai. In Latin America, GA´s current investments include BM&FBOVESPA, Peixe Urbano, Linx, Sura Asset Management, Decolar.com, and Aceco TI. For further information and a listing of GA’s public and private portfolio companies see www.generalatlantic.com.