BTG Pactual buys Órama Investimentos for R$500 million – 10/02/2023 – Market

BTG Pactual announced, this Monday (2), the purchase of Órama Investimentos for R$500 million. BTG, considered the largest investment bank in Latin America, seeks to increase its customer base and product offerings for individuals.

Órama has approximately R$18 billion in assets under custody and 360 thousand customers, and is present in Rio de Janeiro and São Paulo.

The acquisition is part of BTG’s strategy to expand digital platforms. The bank’s expectation is that the business will bring economies of scale, in addition to the dilution of fixed costs, among other synergies.

The deal involves all Órama activities, with the exception of the fund management business, according to BTG. The conclusion and closing of the agreement are subject to necessary regulatory approvals, including from the Central Bank.

Marcelo Flora, partner responsible for BTG Pactual’s digital platforms, stated that the transaction will allow Órama customers access to the complete BTG platform, such as banking, Pix, credit card, offshore investment account with banking and debit card in the States United.

Órama was officially launched on the market in 2011 as the first platform in Brazil dedicated exclusively to the distribution of investment funds. In 2014, it also started distributing fixed income products. In 2018, variable income and pension products were incorporated.

Founded by Selmo Nissenbaum, Guilherme Horn, Roberto Rocha and Habib Nascif, the securities distributor currently has 370 employees and 300 investment advisors registered with Ancord.

Among the company’s main shareholders, who have now sold all of their shares, are Rede D’Or, which incorporated the 25% acquired by SulAmérica in 2019, and Globo Ventures —the company responsible for investments by Grupo Globo shareholders—, which had purchased 25% in 2017, according to BTG.

According to Nascif, executive president of Órama, in addition to the manager, who did not enter the business, part of the partners will focus on “Investment as a Service” (IaaS), a set of solutions that serve retailers and other companies from different sectors.