US and European fund managers are snapping up stakes in Brazil’s small, specialist fund boutiques. They are looking to gain exposure to some of the world’s fastest-growing financial markets, diversify revenues, and capture the huge Brazilian shift out of bonds into equities and other assets. For their part, Brazilian managers are gaining know-how, technology and access to well-oiled marketing machines.
Most recently, BNY Mellon acquired ARX Capital, increasing assets under management in Brazil from some $2 billion to more than $4.6 billion. Earlier last year, Harvard Management Company...
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