Brysam Global Partners, a US private equity firm that specialises in consumer financial services, will make a minority equity investment of approximately USD230m in Ixe Grupo Financiero, a
Brysam Global Partners, a US private equity firm that specialises in consumer financial services, will make a minority equity investment of approximately USD230m in Ixe Grupo Financiero, a leading Mexican financial institution based in Mexico City.
Brysam will receive newly issued common shares representing an ownership interest in Ixe of approximately 28 per cent. Proceeds from the equity investment will be used to finance Ixe’s expansion plans and strengthen its balance sheet.
Brysam focuses on consumer financial services opportunities in emerging markets, including Mexico, Russia, India and China. The firm is headed by co-founders and managing partners Robert B. Willumstad, the former president and chief operating officer of Citigroup, and Marge Magner, the former chairman and chief executive of Citigroup’s global consumer group.
‘Ixe is very pleased to collaborate with Bob Willumstad and Marge Magner, two leaders in the industry with unparalleled experience in consumer banking,’ says chief executive Javier Molinar Horcasitas. ‘We are certain that Brysam’s involvement will help Ixe to consolidate its current businesses, as well as to build a solid foundation to support the future growth of the group.’
Says Willumstad: ‘This investment presents a compelling opportunity to participate in the continuing growth of a group that is becoming a market leader in its segment. We look forward to working with Ixe as the group expands into the broader consumer banking market, which we believe will create long-term value for shareholders and increase competition in the Mexican financial market.’
Established earlier this year, Brysam seeks to fill a need in the investment arena for experienced operating management in financial services, and aims to add value by creating business models that develop and increase profitability and value. In addition to making control investments from its own capital and investor funds, Brysam will co-invest with financial institutions and private equity firms.