# Afore Banamex

Afore Banamex is a Pension Fund based in Mexico City, Mexico.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Mexico City, Mexico
- **Region:** North America
- **Address:** Mexico City, CDMX, Mexico
- **Founded:** 1997
- **Assets under management:** Undisclosed
- **Website:** aforebanamex.com.mx
- **LinkedIn:** https://www.linkedin.com/company/afore-banamex

## Regulatory record

- **Reports private funds:** No

## About

Afore Banamex was established in 1997. Fernando Chico Pardo acquired a 25 percent stake in the Banamex parent in December 2025 and now serves as chair. The firm invests mandatory retirement contributions primarily in Mexican government securities, corporate bonds and real estate. Confirmed holdings include the Palacio de Iturbide in Mexico City and cultural properties in Mérida and San Miguel de Allende. Geographic focus remains Mexico with limited cross-border exposure through PRI signatory networks. Citigroup continues to divest its remaining interest. General Atlantic and Afore SURA agreed in 2026 to acquire a combined 24 percent stake. The firm maintains two philanthropic vehicles, Fomento Cultural Banamex and Fomento Social Banamex. Ownership changes have introduced new co-investors while preserving the core mandate of managing individual retirement accounts under Mexican pension regulations.

## Sectors

- Real Estate

## People

- Fernando Chico Pardo — Chair of the Board

## Questions

### Who runs investment decisions at Afore Banamex?

Fernando Chico Pardo serves as chair following his December 2025 acquisition of a 25 percent stake in the Banamex parent.

### How is Afore Banamex related to Citigroup?

Citigroup founded the firm in 1997 and is currently divesting its controlling interest in Grupo Financiero Banamex.

### Does Afore Banamex participate in real estate investments?

Yes. The firm holds the Palacio de Iturbide in Mexico City plus cultural properties in Mérida and San Miguel de Allende.

### What new ownership stakes were announced in 2025 and 2026?

Fernando Chico Pardo took 25 percent in December 2025. General Atlantic and Afore SURA committed to a combined 24 percent stake in 2026.

### Which industry associations does Afore Banamex belong to?

The firm participates in AMAFORE, FIAP and the Principles for Responsible Investment.

## Related profiles

- [A-Force Ventures](https://altss.com/profile/a-force-ventures)

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Last updated: 2026-06-03T20:00:00.000Z

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