In the midst of a season of changes in the local financial market, entrepreneur Eduardo Costantini announced on Monday that he had reached an agreement to acquire 100% of the shares of two financial companies. This is TPGC GROUP, one of market references for institutional investors in asset trading in Argentina and Uruguay, and the fund manager Southern troussa. Both will be integrated under the umbrella of Consultatio, the company he founded more than 30 years ago.
“With this integration, a new company is born, Consultatio-TPCG, which will position itself as one of the largest independent non-bank financial services groups from both Argentina and Uruguaywith a strong regional projection,” the company explained in a statement.
“Argentina is undergoing a transformation that could be Copernican if long-term macroeconomic balance objectives are achieved. This would fundamentally transform the entire structure of the financial sector and capital market for the better. The professional solvency of the human factor will be the fundamental cause of the degree of success of financial entities. With optimism and expectation we look to that future: this new CONSULTATIO-TPCG is preparing to be a notable protagonist of this great change”, commented Eduardo Costantini.
Costantini’s interest in TPCG lies in the fact that this company has among the institutional investors of the region and the client portfolio which includes large foreign mutual investment funds. The TPCG GROUP has offices in London, Buenos Aires and Montevideo. In the City, the network of relationships of the present player with institutional investors also from the United States. Negotiations lasted more than a year and, despite the sums involved in the deal, Consultatio did not confirm how much was spent to acquire both companies.
“It will also enable us to enhance the capabilities and reputation already demonstrated by both groups in their respective businesses and specialty segments: fixed income and equity trading, capital markets, corporate finance, asset management and asset management,” the company explained.
In this way Consultatio consolidates itself as one of the three largest independent fund managers in the country. Costantini’s commitment is to regionalize the solutions that can be offered by the Río de La Plata: “Latin America is of strategic interest for our company, since we have cultural and economic affinities, and presents a plausible scale”, he underlined the founder and principal shareholder of Consultatio and creator of Malba and real estate initiatives such as Nordelta.
For its part, the Southern Trust was founded in 2012. Specialized in asset management for institutional clientshigh-income companies and individuals, standing out for its innovative products and comprehensive portfolio management.
The acquisition could become at the most important moment of the year, while the confirmation of the sale of the local HSBC branch to Banco Galicia is expected.
Source: Clarin
