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Aubrey Capital Management to partner with LarrainVial

Edinburgh and Santiago (16 January 2024)


Aubrey Capital Management (“Aubrey”), the Edinburgh and London based specialist investment manager, and LarrainVial, one of the largest financial services groups in Chile, have announced today that, following a successful period of negotiation and due diligence, LVCC (the holding company which controls LarrainVial Asset Management), has reached an agreement on the latter acquiring a 25% stake in Aubrey with the deal concluding in the coming days, subject to final reviews by lawyers in the UK and Chile.


The transaction supports Aubrey’s enduring commitment to deliver actively managed portfolios for its clients. 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.


This is an important agreement for LarrainVial, as it will facilitate the business strengthening its capabilities in emerging markets, thanks to the expertise of Aubrey and its team. The agreement also opens opportunities for LVAM and Aubrey to expand their strategies into new markets, broadening the client base for both businesses.


Andrew Ward, Chief Executive Officer of Aubrey Capital Management, commented:

“This is an extremely positive step for both firms that will result in a sharing and deepening of investment expertise and better access to distribution capability in the UK, US, Latin America and Europe.”


Ladislao Larrain, Chief Executive Officer of LarrainVial Asset Management, commented:

"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 with a leading fund manager with almost 20 years of experience and an expert team in Emerging Markets."


The UK Financial Conduct Authority has approved the transaction.


Notes to Editors


About Aubrey Capital Management

Aubrey is a specialist boutique manager with a distinctive investment approach, primarily focused on global equities. Founded in 2006, it manages £744 million [$949 million USD] of client assets in three long only growth equity strategies (Global Emerging Markets, European Conviction and Global Conviction) and one diversified, macro-driven strategy (Defensive Income). Aubrey also provides various investment solutions for private clients.


Aubrey has a history of delivering actively managed, benchmark agnostic, portfolios with high active share and strong long-term performance for its clients. All company research is done internally by an experienced investment team.


About LarrainVial

LarrainVial was founded in 1934 and is one of the leading financial services companies in Latin America with offices in Chile, Peru, Colombia, and the United States.


In 2009, its subsidiary, LarrainVial Asset Management merged with a subsidiary from Consorcio (one of the biggest insurers in Chile with over a century of history). The merger created an effective ownership structure of LarrainVial Asset Management, which is as follows: 75% LarrainVial SpA (parent company of the Larraín Vial group) and 25% Consorcio Financiero S.A.


LarrainVial Asset Management became the first Chilean asset management company to offer SICAV funds domiciled in Luxembourg via the UCITS V vehicle launched in 2011. This has allowed global institutional investors to access LarrainVial´s Latam Equity and Fixed Income strategies.


Based in Santiago, LarrainVial Asset Management is the first, and only, third-party fund manager in Chile to achieve an international rating from Standard & Poor’s, AMP-1 grade, reflecting its strong processes and market position. LarrainVial Asset Management is one of only five entities in Latin America that holds this rating.


Currently, its team of over 90 professionals manage more than $7 billion USD in assets through mutual funds, investment funds, and portfolio management.


Aubrey Capital Management has been advised throughout the process by Spencer House Partners LLP and Dickson Minto.


LarrainVial Asset Management has been advised throughout the process by Burness Paul LLP in the UK and Barros & Errázuriz in Chile.

Assets Under Management as of 31 December 2023.


Compliance Notes 


This press release is specifically provided for use by media representatives in the UK, EU, USA and Chile.


This document has been issued by Aubrey Capital Management Limited, which is authorised and regulated in the UK by the Financial Conduct Authority and is registered as an Investment Adviser with the US Securities & Exchange Commission.

LarrainVial Asset Management is a regulated asset manager subject to the supervision of the Chilean financial authority (Comisión para el Mercado Financiero - "CMF") and it is part of LarrainVial Group which has regulated entities in different countries (Chile, United States, Perú and Colombia).

You should be aware that the regulatory regime applicable in the UK may well be different in your home jurisdiction. 


For more information on Aubrey Capital Management, go to


For media enquiries please contact:


Sam Shelton

Fortuna Asset Management Communications Ltd

Tel: +44 (0)7540 336998



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