In order to strengthen the market for investment products in alternative assets, Grupo Bancolombia entered into an agreement with Patria Investments to create a new company in colombia for the management and distribution of this type of investment.
The new company will be 51 percent owned by Patria and 49 percent by Grupo Bancolombia.
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It will allow attracting more and better investments that will strengthen the sector
Initially this company will focus on real estate asset management and for this reason it will act as external manager of the Private Capital Fund – Real Estate Colombia (FIC), which has more than 170 real estate assets in Colombia and close to 5 trillion pesos in assets under management.
In the future, this company will present a wide range of solutions to investors in private capital, infrastructure, real estate, credit and public actionscreating more alternative asset options tailored to the needs of investors in the country and in local currency.
Juan Carlos Mora, president of Bancolombia, stated that “this alliance will allow us to combine our knowledge and skills in the local market with the power of a world-class expert to structure new solutions that add value to customers who today are already looking for innovative investment options”.
We see with an optimistic vision the prospects of the real estate market in Colombia”
Likewise, he assured that the initial focus of this new company on real estate assets “will make it possible to attract more and better investments that will strengthen the sector and that will contribute to the sustainable development of cities in the country.”
With this initiative, Patria strengthens its presence in Latin America, reaffirms its focus on the investment sector in alternative assetss, while positioning itself as a first-line platform to attract foreign investment to the region and facilitate access to this type of asset in key local markets.
“This joint venture with one of the main financial institutions in the region will strengthen our leadership in the alternative asset market, by becoming a a robust platform in Colombia with an offer of local and global products, thus contributing to our leadership in the region. Likewise, we view the prospects for the real estate market in Colombia with an optimistic vision”, affirms Alfonso Duval, CEO of Patria Investments for Latin America.
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What are alternative asset investments?
Investments in alternative assets are those that allow investors to diversify their traditional portfolios financial markets and incorporate assets such as real estate, but also allow you to invest in companies not listed on the stock market, physical assets, raw materials, among others.
