The Mexican subsidiary of
Prudential Apolo Operadora de Sociedades de Inversion will purchase 100% of the fund management company Operadora Finamex, Prudential said today.
Operadora Finamex, with $269 million in assets under management, is Mexicos 19 th largest fund complex. Prudential intends to consolidate the firm with Prudential Apolo, Mexicos second-largest management firm with $731 million in assets under management. The deal is expected to close during the third quarter.
Prudential Apolo President Manuel Somoza said in a statement that the acquisition is intended to "provide Prudential Apolo with further leverage to build our customer base and have a more visible market presence."
Finamex has more than 5,000 customers while Prudiential Apolos client base consists of more than 32,000, Prudential said.
