Dunas Capital announced this Monday the signing of an agreement for the acquisition of the entirety – for an amount that has not been disclosed – of the Gesnorte entity, so that the assets under management have risen to above 3,400 million of euros.

The two companies have explained in a joint press release that this is an operation of “great strategic value” that will allow the creation of synergies and economies of scale, as well as maintaining Dunas’ growth rate, which is estimated at 35%. compound annual.

Likewise, both parties have framed that the operation has its logic in that the two share a “very similar” philosophy: prioritizing the preservation of capital, since many of the clients operate in the insurance sector, which is characterized by being highly regulated and require low levels of risk.

In this sense, the management company Gesnorte, which has 300 million euros distributed in several funds whose portfolios combine debt assets with stock market shares, has as its main shareholders and clients companies such as Helvetia Seguros, Reale Seguros, MGS Seguros, Nacional de Reaseguros , Ergo Seguros and Ges Seguros.

In line with this, it is worth remembering that Dunas Capital was born in 2016 after the purchase of Inverseguros after the founding partners detected that “there was a demand to cover” in the market for investment products focused on the insurance sector.

The president of Dunas Capital, David Angulo, has assessed that the alliance with Gesnorte allows them to continue on the path of growth: “In this case in an inorganic way, by joining our forces with a house that shares the same principles as ours” .

Consequently, Angulo has stated that in an increasingly complex environment, his group has managed to position itself as “one of the fastest growing independent managers.”

Dunas Capital has had the advice of Simmons