Former Actis partner joins XP to launch private equity funds – sources

Brazilian investment firm XP Inc is preparing to launch private equity funds, as the company seeks to offer a broader investment portfolio to its clients, two sources with knowledge of the matter said on Tuesday. Former Actis partner Chu Kong has joined XP as a partner to lead the firm’s private equity strategy, the sources added. When at Actis, Kong was responsible for buying a stake in XP in 2010, which it completely divested in 2016.