February 1, 2011, São Paulo, Brazil – One Equity Partners (OEP), the merchant banking investment arm of JPMorgan Chase & Co., acquired 50% of Portal de Documentos (“Portal”), a Brazilian company that licenses a web-based platform to expedite and automate the recovery of delinquent consumer loans. This is the first investment that OEP has made in Brazil having been advised by Pacific Investments. With the new investor, Portal adds financial strength and international standards of corporate governance.
Portal was founded in 2007 and is today the leader in its segment and experiencing rapid growth during the past several years. Among its clients are the large financial institutions that offer credit, and that benefit from significant cost reduction while using Portal’s solution. Portal generates efficiency making the collection process cheaper, faster and eco friendly, given the reduction in use of paper. While offering a comprehensive electronic platform, with national footprint, Portal allows its clients to collect on loans that were previously non viable from the operating cost perspective.
One Equity Partners became interested in investing in Portal’s successful business model and decided to back the company for further growth. Founder Joao Bosco Ardisson will remain as the company´s CEO, and One Equity Partners will appoint the Chairman of the Board.
“One Equity Partners´ investment is a significant recognition of the quality of Portal´s solutions.” said Alberto Tamer, member of the Board and head of Portal´s institutional relations.
“We decided to invest in Portal de Documentos because of its successful business model, management know-how and growth perspective through new market segments and new products. This is an industry that has strong growth in Brazil and we are excited to work with the leading banks to further develop the consumer finance infrastructure that needs to grow to keep pace with the expansion of the Brazilian middle class”, says Dick Cashin, One Equity Partners´ managing partner.
Portal de Documentos uses cutting-edge technology, and its logistics are specifically built for the management of the credit collection process. This industry is composed mainly of banks, credit companies, collection companies and law firms. With no direct competitor offering a comprehensive platform, the company has been committed to creating and improving its tools to increase the speed and efficiency of the collection process, generating up to 90% of cost reduction to its clients.
In addition to its knowledge of Brazilian notary market, Portal has partnership agreements with the largest players in the electronic storage, digital certification and Brazilian BPO industries. Portal consolidated its presence in the market for auto loans, where the total outstanding credit balance reached R$ 180 billion in 09/2010. As next steps, the company plans to expand its footprint into mortgages, consumer loans made by banks, and store loans made to buyers of high value add products, in the electronics and home appliances segments.
The documents that pass through Portal´s platform are digital and have legal value just as original documents. For the system´s security, the company uses the most advanced tools available globally. Users have access to Portal´s web platform using a login and password, provided via token and following ICP Brazilian standards.
Investment in Brazil
Founded in 2001, One Equity Partners (OEP) manages a portfolio of US$ 8 billion in investments and commitments for JPMorgan Chase & Co. OEP invests in management-led buyouts, and growth capital financing with a particular emphasis on corporate partnerships and divestitures. In addition to a significant presence in developed countries such as the US and Europe, One Equity Partners has recently made investments in developing markets such as China, India, Turkey and now Brazil.
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