BTG Pactual, one of the largest investment banks in Latin America, announced on Monday (2) the acquisition of 100% of the social capital of Órama DTVM, one of Brazil's leading investment distributors. According to a statement from the bank, the acquisition, valued at R$ 500 million (US$ 97 million), is part of the expansion strategy of their digital platforms, aimed at increasing the customer base and advancing the offering of products and services for individuals.

Based in Rio de Janeiro and São Paulo, Órama has approximately R$ 18 billion (US$ 3.4 billion) in assets under custody, 360,000 clients, as well as 370 employees and 300 investment advisors. Founded by Selmo Nissenbaum, Guilherme Horn, Roberto Rocha, and Habib Nascif, Órama was officially launched in the market in 2011 as Brazil's first platform dedicated exclusively to the distribution of investment funds. In 2014, it began distributing fixed-income products, and in 2018, it incorporated variable income and pension products.

According to Marcelo Flora, the partner responsible for BTG Pactual's Digital Platforms, this business will bring even greater economies of scale, expanding the customer base and leading to cost efficiency, synergy, and productivity gains. "We are very excited about the acquisition, which will enable Órama clients to have access to BTG's complete platform, including banking, Pix, credit cards, offshore investment accounts with banking, and debit cards in the United States", he said.

Órama had Rede D’Or and Globo Ventures among its shareholders, with Rede D’Or having incorporated the 25% acquired by SulAmérica in 2019, and Globo Ventures acquiring 25% in 2017. In the view of Habib Nascif, CEO of Órama, the sale to BTG represents the consolidation of the company, "which was born innovative in the sector, focusing on democratizing investments and financial education."

"On the other hand, in addition to the asset manager, some of the partners will focus on what we call Investment as a Service - IaaS, a set of solutions that cater to retailers and other companies from various sectors seeking to offer investments to their clients", adds the executive.

The conclusion of the transaction is still subject to the necessary regulatory approvals, including from the Central Bank of Brazil. The acquisition of Órama follows other recent acquisitions by BTG, such as Magnetis, Ourinvest, among others.

*Real to dollar exchange rate as of October 3, 2023, at 08 p.m.