Allfunds enters onshore fund distribution in Brazil through Andbank: Advisors
Allfunds and Andbank have signed a binding agreement for the acquisition by Allfunds of Andbank Distribuidora de Títulos e Valores Mobiliários LTDA, the securities brokerage subsidiary of the Andbank group in Brazil.
The transaction includes a fully operational fund distribution platform for the Brazilian on-shore market; an experienced local team of some 20 professionals; and a long-term strategic agreement under which Andbank will use Allfunds as its primary and preferred partner for the distribution of investment funds to its clients.
As of March 2025, Andbank manages approximately €52.4 billion worldwide, of which some €769 million is in the Brazilian part of mutual fund distribution, activities that will be directly supported and strengthened through this strategic partnership.
The transaction is expected to be signed before the end of the second quarter of this year and to close in 2026, subject to regulatory approvals and customary closing conditions. The transaction will have an immaterial impact on Allfunds’ balance sheet.
Advisors
The Andbank de España in-house team included Pablo García Montañés, General Secretary of the Andbank Group; and Isabel García Díaz-Mauriño, M&A Legal Director. The Andbank Brazil team included Luis Jimenez Aragón, CEO of Corporate Services; and Silvia Ferraz Ivamoto, Legal Director.
