Un hecho esencial de Parque Arauco sorprendió al mercado el viernes 11 de octubre. La firma ligada a la familia Said anunció la suscripción de un contrato de compraventa del 49% del negocio de outlets con AFP Habitat, por un total de US$ 36 millones.
The pension funds that it manages will keep 49% of the Parque Arauco outlets, and it would set a precedent in the industry.
An important fact on the CMF website of Parque Arauco surprised the market on Friday, October 11. The firm linked to the Said family announced the signing of a contract for the purchase and sale of 49% of the outlet business with AFP Habitat, for a total of US$ 36 million.
The deal is the first transaction of this magnitude in local alternative assets to be carried out directly by an AFP on behalf of pension funds, as there have been bets of this type previously, but they were carried out through investment funds.
Although Habitat had made some smaller bets in this asset class directly, with this operation it took a bigger step, becoming the first AFP to invest in this way.
Costs and efficiency
The formula that Habitat has chosen is similar to that used by pension funds in other countries, such as those in Canada, which make direct investments in alternative assets, although unlike other markets, the Chilean market is smaller and the AFPs have a different investment regime, focused on limits.
The advantages of direct investments include cost and efficiency. In terms of the latter, it is more complicated to do this through a fund, because you have to find several contributors who are interested in investing at the same time and in the same way.
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