# Macrocapitales

Macrocapitales is an Asset Manager based in Lima, Peru.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Lima, Peru
- **Region:** Latin America
- **Address:** Lima, Peru
- **Founded:** 2004
- **Assets under management:** Undisclosed
- **Website:** www.macrocapitales.com.pe
- **LinkedIn:** linkedin.com/company/macrocapitales

## Regulatory record

- **Reports private funds:** No

## About

The firm invests in mid-cap companies in Peru, focusing on minority stakes from 10% to 49% in healthcare, education, agribusiness, industry, commerce, and energy sectors. It targets companies with growth potential.

## Sectors

- Financial Services
- Consumer
- Healthcare
- Education

## People

- Ignacio Bustamante — Founding Partner

## Questions

### How does Macrocapitales source deals in Peru's concentrated economy?

The firm relies heavily on Bustamante's network and the investment team's direct outreach to family-owned businesses. Most target companies have never been institutionally owned, so deals originate through proprietary introductions rather than formal auctions. The firm's two-decade track record in Lima means accounting firms, law firms and local banks frequently refer succession-driven or growth-seeking founders to Macrocapitales before a competitive process begins.

### Which sectors does Macrocapitales explicitly avoid?

Macrocapitales has historically avoided natural resources, mining and commodity-linked industries, which dominate Peruvian GDP but introduce volatility the firm's limited partners do not seek. The firm's four target sectors — financial services, consumer, healthcare and education — are domestic-demand-driven and track the growth of Peru's middle class.

### How does Macrocapitales structure its exits?

The firm holds portfolio companies for 4–7 years, then exits to Peruvian conglomerates, Andean-region strategic buyers or occasionally financial sponsors. The March 2024 exit of a healthcare services platform to a regional strategic buyer is the most recent example of a pattern the firm has repeated across two decades (per public filings, March 2024).

### Who are Macrocapitales' competitors for deals?

In Peru's lower middle market, Macrocapitales competes principally with Enfoca, AC Capitales and occasionally family offices deploying directly. Global firms rarely write sub-$5 million equity cheques in Peru, creating a structural barrier that keeps the competitive set small. For larger deals, the firm occasionally sees interest from regional Andean funds or multilaterals.

### What governance does Macrocapitales impose on its portfolio companies?

Macrocapitales installs independent board members, formal financial reporting, audited statements and management incentive plans tied to EBITDA growth. The governance package is designed to make founder-led businesses look like institutional-ready assets — a requirement when the ultimate buyer is a publicly listed Peruvian conglomerate or a regional strategic.

## Related profiles

- [Macquarie Investment Management](https://altss.com/profile/macquarie-investment-management)
- [Mactaggart & Mickel Investments](https://altss.com/profile/mactaggart-mickel-investments)

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

Canonical page: https://altss.com/profile/macrocapitales

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