Portofino and Est Merge to Reach R$ 40 Billion in Assets Under Management
The deal combines wealth management boutiques and expands the firm's footprint in São Paulo.
Wealth management firms Portofino and Est have officially merged their operations. This move pushes Portofino's total assets under management to over R$ 40 billion.
The transaction adds approximately R$ 5 billion in assets previously managed by Est. As part of the agreement, Est's founders will join Portofino's partnership structure.
Carolina Giovanella, CEO of Portofino, notes that the merger aims to combine expertise and broaden access to opportunities for clients. She emphasizes that independent investment selection remains a core pillar of their strategy.
Portofino's structure now includes the Est team, featuring specialists in credit and estate planning. The company maintains offices in several Brazilian state capitals and operates an international division.
This consolidation trend in the wealth management sector reflects a drive for greater scale and operational efficiency. The union aims to invest in structure and technology to provide more competitive conditions for clients.
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