Sura Considers Asset Management Float

Colombia’s Grupo de Inversiones Suramericana is considering floating its Sura Asset management unit, according to sources at the company. The timing and other details remain unclear, with the group still working on the integration of the pension assets it agreed to buy in late 2011 from HSBC. It paid $3.76bn for ING’s Latin American pension and insurance assets, funded through a COP3.5trn ($1.8bn) equity follow-on, and additional investment from Grupo Bolivar, UBS, the IFC, JPMorgan, General Atlantic and Bancolombia. CFO Ignacio Calle told LatinFinance last month that the group has its eye on European assets that may come up for sale going forward.