ACON invests in Mexico’s Actinver. Credit: ulleo from Pixabay.

ACON Latin America Opportunities Fund (ALAOF V), an affiliate of ACON Investments, and its co-investors have completed an investment in Mexican investment services provider Corporación Actinver.

Actinver offers wealth management services to individual clients. It also provides large and middle-sized firms across Mexico with corporate and investment banking services.

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Established in 1994, Actinver caters to over 270,000 individual wealth customers. The company currently operates a mix of digital channels as well as 48 offices and over 500 financial advisors.

Until the end of June this year, Actinver handled around $9bn of assets under management and had nearly $25bn of assets under custody.

For the 12 months ended 30 June 2022, the firm recorded MXN730m ($36m) in net income. Over 80% of Actinver’s operating income came from its wealth management and brokerage activities.

With the latest investment, ACON will own as much as 15% of Actinver’s capital.

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ACON noted that it will also support Actinver’s management team, which is headed by its CEO and chairman Hector Madero Rivero.

Actinver plans to use the proceeds from the investment to further boost its balance sheet as well as fund its business, especially the digital products and services segment.

Rivero said: “Our board of directors and management team welcomes ACON as new investors in Actinver at this important stage in the development of our group.

“We believe ACON’s global platform and experience in financial services makes it an ideal partner for Actinver.

“We look forward to working together as we continue to reshape the investment services and corporate advisory industry in Mexico.”

In July this year, Actinver entered into an agreement with Credit Suisse to add the latter’s select portfolio of clients and certain relationship managers in Mexico.