Carlyle Group acquires majority stake in Peruvian cash management company

The Carlyle Group recently acquired 85.42 percent interest in Hermes, a cash management company based in Peru.

The transactional terms were not disclosed to the public, but it is known that The Carlyle Group purchased its shares from Inversiones Centenario, Scotiabank, and the Wiese and De Osma families.

Hermes has a proven track record of more than 30 years of extensive activity in its home market, providing services such as document management, cash-in-transit, collections for payment, and the processing and custody of funds. It boasts a workforce of 2,800 personnel, and has a model physical infrastructure and management system in place throughout the country.

"The rich history of Hermes in the Peruvian market, combined with its outstanding management team and strong employee base, make this an attractive company,” Juan Carlos Felix, managing director and co-head of Carlyle South America Buyout Fund, said. “We are excited as well about its current fair trade policies consistent with the spirit of the new shareholders, who value healthy competition in the market.”

The Carlyle Group is an alternative asset manager juggling more than $190 billion globally. It has offices on six different continents, and interacts with industries from aerospace and defense to telecommunications and media.