XP Buys Minority Stake Brazil's Investment Manager Jive Investments

(RTTNews) - XP Inc. (XP) announced the acquisition of a minority stake in Jive Investments, the largest independent alternative investment manager in Brazil. The governance and independence of each company will remain unchanged.

The closing of the transaction is dependent on the approval of Cade-Administrative Council for Economic Defense.

Currently, Jive manages approximately R$8 billion in assets, R$21 billion in face value with more than 1,300 investors in Brazil and abroad. The partnership will allow the company to originate and distribute assets directly or through approximately 9,000 IFAs plugged into XP's network.