LarraínVial

LarraínVial has operated since 1934 as Chile's oldest independent brokerage, asset management, and investment banking firm based in Santiago.

LarraínVial

Founded in 1934, LarraínVial began as a brokerage house in Santiago and over nine decades has expanded into one of Chile's most recognized independent financial services groups. The firm operates across brokerage, asset management, investment banking, and wealth management, serving institutional investors, corporations, and high-net-worth individuals primarily within the Chilean market. It has historically been among the dominant players on the Santiago Stock Exchange and has advised on major local mergers, equity offerings, and debt placements. The asset management arm runs a range of publicly offered mutual funds and private investment vehicles that cover Chilean equities, fixed income, and alternative assets. The firm is known for pioneering several first-to-market funds in Chile, including early private equity and real estate fund structures. Its institutional clients include Chilean pension funds (AFPs), insurance companies, and family offices. While its footprint is concentrated in Chile, the firm has selectively participated in cross-border transactions connecting Andean markets to broader Latin American deal flow. LarraínVial's brokerage division remains a core profit center, consistently ranking among the top three equity traders by volume on the Chilean exchange. The investment banking team focuses on mid-cap to large-cap transactions, with a historical emphasis on the financial services, retail, and natural resource sectors that define the Chilean economy. The firm has also operated a real estate asset management line. Exact headcount and assets under management are not publicly reported in a single consolidated figure. For allocators, LarraínVial's distinction lies in its combination of local market infrastructure and independence. Unlike the local operations of global banks or the in-house desks of Chilean conglomerates, the firm has no parent balance sheet or state affiliation. Its longevity through multiple economic cycles — including the 1982 Chilean debt crisis, the Latin American debt crises, and the commodity super-cycle — makes it a reference point for anyone mapping the institutional plumbing of Andean capital markets.

Website

english.larrainvial.com

General information

Firm type

Private Equity

Year founded

1934

AUM

Undisclosed

Location

Region

Latin America

Country

Chile

City

Santiago

Corporate office

Santiago, Chile

Who runs investment decisions at LarraínVial?

LarraínVial is organized across distinct business lines — brokerage, asset management, and investment banking — with separate senior management for each, overseen by an executive committee and board. The firm has historically been closely associated with the Larraín family, but day-to-day portfolio management is delegated to professional teams. Specific current principals are not identified in the available primary-source record.

Is LarraínVial a single family office or an asset manager?

LarraínVial is an independent financial services firm and asset manager, not a family office. While historically tied to the Larraín family, it operates as a regulated public-facing entity with institutional and retail clients. Its structure resembles a diversified financial group with brokerage, asset management, and corporate finance divisions.

What is LarraínVial's known posture on co-investments alongside external GPs?

The firm's private capital funds have historically been structured as blind-pool vehicles for Chilean institutional investors, rather than co-investment platforms. Its role is typically that of a local GP raising and deploying capital in the Andean region, not a co-investor alongside foreign GPs. The fund line-up is primarily mutual funds and locally domiciled private equity or real estate vehicles.

Which sectors does LarraínVial explicitly avoid?

There is no published exclusion list. The investment banking and asset management activities have historically reflected the composition of the Chilean economy — financial services, retail, energy, and mining figure prominently — with no stated negative screens. Allocators should confirm current ESG or exclusion policies directly with the firm.

How is LarraínVial regulated?

LarraínVial is regulated by Chile's Comisión para el Mercado Financiero (CMF), the unified financial regulator that oversees securities broker-dealers, asset managers, and publicly offered funds. Its brokerage and mutual fund operations are subject to CMF rules, and its pension fund-facing activities must also comply with the rules of Chile's AFP system.

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