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XP acquires minority stake in Brazilian quantitative fund manager Giant Steps

Giant Steps should accelerate expansion plans, launch more products and hire people in other countries, opening branches abroad

Photo: XP/Screenshot
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  • Giant Steps has about BRL 7 billion in assets under custody;
  • The company is a manager of quantitative funds, investment portfolios that operate based on mathematical analysis and algorithms.

Brazil‘s broker XP announced on Friday an agreement to acquire a minority stake in quantitative fund manager Giant Steps, without mentioning values.

With headquarters in São Paulo and about BRL 7 billion in assets under management, Giant Steps presents itself as the largest of its sector in the country. According to the statement, the partnership with XP should allow Giant Steps to accelerate expansion plans, launch more products and hire people in other countries, opening branches abroad.

READ ALSO: Broker XP agrees with Brazil’s Messem to create a new investment brokerage house

Quantitative funds are investment portfolios that operate based on mathematical analysis and algorithms.

(Translated by LABS)

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