Brysam Global Partners, a New York-based private equity firm, acquired an 18.8% interest in BCSC, a leading Colombian financial institution based in Bogotá. Brysam was founded in 2007 Marge Magner and Bob Willumstad to invest in consumer financial services in the emerging markets.
Brysam Global Partners, a U.S. private equity firm that specializes in consumer financial services in the emerging markets, announced today that it has acquired an 18.8% interest in BCSC, a leading Colombian financial institution based in Bogotá. Brysam’s co-founder and Managing Partner, Marge Magner, will join BCSC’s Board of Directors.
Brysam’s 18.8% ownership interest is equally comprised of newly issued and existing shares of BCSC common stock. Newly-infused capital from Brysam’s investment will be used to expand current business capabilities and capitalize on new and existing market opportunities.
“We are very pleased to welcome Brysam as an investment partner and Marge Magner as a member of our Board,” said Dr. Eduardo Villar Borrero, President of the Board of Directors of BCSC. “We plan to leverage Brysam’s experience in financial services and the emerging markets to improve customer service through enhanced products and services. We are confident that with this alliance BCSC will maintain its position as a leading modern and competitive entity at the forefront of its market.”
“We are excited by the opportunity to invest in the Colombian consumer financial services market and to partner with an institution as well-positioned and well-respected as BCSC,” said Marge Magner. “We look forward to collaborating with BCSC’s management team to further develop products and services for its customers that will build upon its existing market position. We believe that BCSC will continue to be one of the strongest and most competitive financial institutions in Colombia.”
BCSC was established in 2005, following the completion of the merger between Banco Colmena, a mortgage financial services company, and Banco Caja Social, a financial services institution. Its network includes approximately 260 branches and more than 450 ATMs, providing a range of financial services to three and a half million clients.
Brysam focuses on investing in consumer financial services opportunities in emerging markets, including Mexico, Russia, India, Colombia and China.
About Brysam Global Partners
Brysam Global Partners is a specialized private equity firm that invests in financial services with a focus on consumer opportunities in emerging markets where it can leverage its management and operational expertise. Established in 2007 by Marge Magner and Bob Willumstad, Brysam Global Partners was created to fill a need in the investment arena for experienced operating management in financial services. Brysam adds value by creating business models that develop and increase profitability and value. In addition to making investments from its own capital and investor funds, Brysam co-invests with financial institutions and private equity firms.