Itaú Unibanco is acquiring a 35% stake in Brazilian alternative asset manager Prisma Capital, expanding its exposure to special situations and credit strategies, according to a report by Bloomberg.
Financial terms were not disclosed. The investment will reportedly be made through preferred shares, with Prisma’s existing partners retaining the remaining 65% of capital and all voting shares. Completion is subject to approval from Brazil’s antitrust regulator and central bank.
Founded in 2017 and based in São Paulo, Prisma manages approximately BRL28bn ($5.6bn) across private and public equities, credit, real estate, distressed companies and claims. Its investors include domestic and international institutions and family offices.
The firm also invests in structured credit funds known as FIDCs, which acquire receivables including payroll-linked loans, and technology platforms that originate credit.
Proceeds will reportedly increase Prisma’s investment capacity and support the creation and acquisition of platforms that originate assets for its funds. Existing partners are not selling shares in the transaction.
