LarrainVial Asset Management

The firm uses a classic gatekeeper selection process: quantitative screening of a global universe, onsite due-diligence visits, background checks, and operational-risk assessments. Its long-standing presence in the Chilean market gives it access to managers who might otherwise overlook Latin American institutional capital. Final allocations are packaged into commingled feeder vehicles or direct segregated mandates, depending on client size and regulatory requirements.

The unit's primary mandate is offshore fund selection for Chilean institutional investors. Most underlying managers are US- or Europe-based, though the platform has historically included select Asian strategies. LarrainVial's broader group does maintain separate domestic capabilities in brokerage and local wealth management, but the asset-management gatekeeper function focuses mainly on cross-border allocations.

In practice, the gatekeeper platform is designed for the Chilean institutional market — particularly AFPs, insurers, and local family offices. Other group divisions serve Peruvian and Colombian clients from their Lima and Bogotá offices. Direct commitments from North American or European allocators into the feeder platform are not a publicly stated focus.

The firm predominantly uses feeder-fund structures to aggregate smaller institutional mandates into tickets large enough to meet minimums at top-tier private-market managers. For larger pension clients, the platform can negotiate separately managed accounts. The legal framework involves Chilean-domiciled vehicles that handle local custody, tax reporting, and the currency-hedging requirements set by the Chilean pension regulator.

It is a division of LarrainVial, a privately held partnership founded in 1934. The group operates four main lines: capital markets (equity and fixed-income brokerage, research), wealth management, corporate finance, and asset management. The asset-management division reports through a dedicated CEO and operates alongside — not inside — the private-wealth advisory business, maintaining institutional-grade governance and manager-selection independence.

As a regulated entity under Chile's Comisión para el Mercado Financiero, the firm is subject to local operational and custody standards. For underlying offshore managers, it applies institutional gatekeeper protocols including onsite visits, service-provider checks, and ongoing risk monitoring. Specific operational-diligence procedures are not publicly disclosed, though the platform serves Chile's largest pension funds, which impose their own rigorous third-party oversight standards.

The asset-management platform is primarily a manager-of-managers operation, selecting and blending external strategies. Some group-level vehicles in private debt or local real estate may carry LarrainVial branding, but the core institutional offering is gatekeeper-style fund selection rather than proprietary portfolio management conducted by an in-house investment team.