A business operating from Chile – with offices in Latin America and the US – has bought a stake in a UK asset management boutique.

LarrainVial, a Chilean financial services group, has bought a minority (25 per cent) stake in Aubrey Capital Management, the Edinburgh and London-based specialist global equity manager.

The stake has been made by LVCC, the holding company controlling LarrainVial Asset Management. The deal, the specific financial size of which is not being disclosed, will conclude in coming days, subject to reviews in Chile and the UK. 

Aubrey will remain a majority employee-owned business and its main shareholders and founders will remain in the business. The firm will retain its Edinburgh head office, with an additional office in London.

The agreement opens opportunities for LVAM and Aubrey to expand their strategies into new markets, broadening the client base for both businesses, Aubrey said.

"It is very important for us to participate in the ownership of Aubrey, as it allows us to approach new markets and strengthen our international presence,” Ladislao Larrain, CEO of LVAM said.

The UK Financial Conduct Authority has approved the transaction.

Founded in 2006, Aubrey mainly focuses on global equities and manages £744 million ($949 million) of client assets in three long-only strategies. LarrainVial was founded in 1934 and has offices in Chile, Peru, Colombia, and the US. In 2009, its subsidiary, LarrainVial Asset Management, merged with a subsidiary from Consorcio (one of the biggest insurers in Chile).