Chilean third party fund distributor and asset manager Picton has signed a deal with 414 Capital for the group to distribute its alternative asset manager partner funds in Mexico.
This deal is Picton’s first move into the Mexican market with 414 focusing on distributing the funds run by its private equity clients, according to Picton’s head of institutional distribution Matías Eguiguren.
Picton already distributes the funds of alternative asset managers KKR, TPG, Ares, American Securities, Hamilton Lane, EQT, Permira and Macquarie in Chile, Peru and Colombia.
‘We have several portfolio mandates for 2020 and 2021 and we hope to maintain our leadership position in Chile, Colombia and Peru and now add Mexico as a very relevant market for our clients,’ Eguiguren said in a statement.
New York-based 414 Capital was founded in 2009 and opened an office in Mexico a year later. According to the firm’s website, it specializes in mergers and acquisitions, having generated the most activity on this front in the Mexican market.
Picton recently bolstered its Latin America teams with three hires in September, adding to its institutional distribution and multi-family office operations in Peru while hiring an office head in Colombia charged with its institutional business.
Picton focuses on high net worth and institutional clients in Latin America and was founded in 2011 by Eguiguren, José Miguel Ureta, Gregorio Donoso and Augusto Undurraga.