Vinci Compass in talks to buy Brazilian asset manager Verde
SAO PAULO (Reuters) -Vinci Compass is in talks to buy Verde Asset Management, one of Latin America's most established hedge funds, Verde told Reuters on Monday, confirming earlier news reports.
The move, set to be carried out through a share swap, would put Vinci, a Nasdaq-listed firm focused on alternative investments such as private equity, and Verde under the same roof.
News outlet Brazil Journal first reported the potential deal, citing sources. The two firms combined manage nearly $58 billion in assets, according to data on their websites.
The two Brazilian asset managers reached an initial agreement for a joint venture that would give Vinci control of Verde after five years, Verde confirmed.
Verde's management would remain autonomous during that period, and Verde co-founder Luis Stuhlberger is set to remain as partner, it added.
Vinci did not immediately respond to a request for comment sent outside normal business hours.
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