Unibanco Asset Targets $200m for Chile, Argentina

Unibanco Asset Management (UAM) is about to close a deal with two investment groups – one in Santiago de Chile and one in Buenos Aires – to provide Chilean and Argentine investors with exposure to Brazilian investments, according to an executive close to the asset manager. UAM will look to raise individual funds of around $100m in each country. While many investors in South America already have Brazil exposure, UAM is hoping to raise interest based on its proximity and experience with the Brazilian market. Itaú, which has a retail presence in Argentina, already invests Argentine funds in Brazil. Other Brazilian banks are heard considering similar moves.