Hedge Fund Fever Fuels Surging Growth at Brazil Asset Manager
- Kinea assets jumped to $16 billion over the past three years
- Itau-owned firm plans to start equity funds and expand team
Photographer: Dado Galdieri/Bloomberg
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Few firms have benefited as much from Brazil’s hedge fund renaissance as Kinea Investimentos Ltda.
Assets under management at Kinea, which is owned by Itau Unibanco Holding SA, have surged fivefold since the end of 2016, to 62.1 billion reais ($16 billion) as of June. The firm’s hedge fund division propelled much of that growth after Kinea brought in new blood to overhaul operations in 2015. The Kinea Chronos FIM hedge fund ranked No. 1 out of 151 similar funds for net inflows in the first six months of this year, according to data compiled by Bloomberg.