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Capital Management, the global alternative asset manager owned by J.P. Morgan Asset Management, announced the purchase of a majority interest in Gávea Investimentos, a leading alternative asset management company in Brazil with approximately $6 billion of assets under management. Gávea was co-founded in 2003 by Chairman and Chief Investment Officer Arminio Fraga, former President of the Central Bank of Brazil. "This has been a long courtship of one of the finest global macroeconomic hedge fund managers in the world," said Mary Callahan Erdoes, CEO of J.P. Morgan Asset Management. "Our clients look to us to invest their money with the smartest, most talented alpha managers. Partnering with Gávea gives our clients the ideal combination of local emerging markets expertise with the global...
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