Afore Coppel to acquire InverCap for US$264 million

Afore Coppel, a major Mexican retirement fund administrator under Grupo Coppel, is set to acquire InverCap from Advent International. The transaction is valued at approximately 4.62 billion pesos (US$264 million) and will be settled entirely in cash.

Through this acquisition, Afore Coppel is expected to increase its assets under management from 658 billion pesos to over 1 trillion pesos. This move would strengthen its position in the Mexican retirement fund market, though it would remain behind Banamex in terms of total resources managed.

InverCap, which currently ranks ninth in the Mexican market by number of accounts and assets, is part of Advent International’s LAPEF V private equity portfolio. The sale represents the first major consolidation in the sector since the Metlife and Principal merger in 2018. The transaction remains subject to standard closing adjustments and regulatory oversight by the National Commission for the Retirement Savings System (Consar).