Investment Strategy
AFP Integra is Peru’s largest pension fund administrator, managing approximately $18 billion in mandatory retirement savings for Peruvian workers. Integra is part of SURA Asset Management, one of Latin America’s largest asset management groups, which provides access to regional investment expertise and manager networks.
The investment strategy operates within Peruvian regulatory constraints that govern asset allocation across four fund types. Integra allocates approximately 6% to alternatives including private equity, infrastructure, and real estate. The alternatives program has been growing as Peruvian regulations have evolved to permit broader private market exposure.
Infrastructure investments are particularly relevant given Peru’s significant infrastructure development needs. Private equity investments span Andean regional and global managers, with exposure to growth equity strategies suited to Latin American markets. The fund’s connection to the SURA Group provides institutional-quality resources for manager research and due diligence.
How to Approach
AFP Integra’s investment team operates from Lima. GPs should approach the team with strategies relevant to the Latin American and Andean market context. The fund’s connection to SURA Asset Management means GPs already in the SURA ecosystem may have an easier path to Integra capital.
Managers with Latin American expertise, Andean region deal flow, or infrastructure strategies focused on developing markets will find particular interest. Spanish-speaking capabilities and a local or regional presence are advantageous. The team attends Latin American institutional investor conferences.
Frequently Asked Questions
How much does AFP Integra allocate to alternatives?
AFP Integra allocates approximately 6% of its assets to alternative investments including private equity, infrastructure, and real estate. Peruvian pension fund regulations set limits on alternative allocations, and the industry has been gradually increasing exposure as the regulatory framework evolves.
How can fund managers approach AFP Integra?
AFP Integra's investment team is based in Lima. GPs should approach the investments division directly. Integra is part of the SURA Group, giving it access to broader Latin American institutional investor networks. Managers with Andean region or Latin American expertise will find the strongest reception.
What is the Peruvian AFP regulatory framework?
Peruvian AFP investments are regulated by the Superintendencia de Banca, Seguros y AFP (SBS). Regulations set limits on alternative investments by fund type, with Peru's four fund types (0 through 3) offering different risk profiles. Regulatory reforms have been gradually expanding the permissible alternatives allocation for Peruvian AFPs.
