CLThe consolidation trend in Chile's fund administration industry continues, driven by rising operational costs and the need for synergies. This week, MBI completed its acquisition of Quest Capital, having previously notified the Financial Market Commission (CMF) of negotiations with Quest's controllers on March 27. On Tuesday, MBI announced the signing of contracts and confirmed that on July 6, through a newly created entity called MBI-Q SpA, it acquired all shares of Quest Administradora General de Fondos and Quest Advisors. The transaction involves merging MBI-Q SpA with Quest, with plans to consolidate into a single fund administrator. MBI stated this transition is temporary but aims to unify operations under one entity through necessary legal and regulatory steps. According to MBIQ, the merger strengthens both organizations' existing strengths, expanding capabilities while maintaining their service model. Quest Capital has over 20 years of experience, offering financial services including asset management, wealth management, and corporate finance. It manages more than $200 billion across 11 public funds and 18 private vehicles. MBIQ now oversees assets exceeding $3 billion with
Bias read (Center): The article reports on a business acquisition in the financial sector without taking a stance on political issues. It provides factual information about the merger between two companies, focusing on economic activity rather than political controversy.
