Lafferty Group, the London financial research and advisory firm founded by Irish entrepreneur Michael Lafferty, has formed a joint venture with Brazilian consultancy Partner Conhecimento.

The deal gives Lafferty a 50% interest in a business with annual sales of over €1.2m, plus an option to buy out the rest in three years.

The new business, Lafferty Brazil, also gives the group a foothold in a top-five credit card market and a platform for more expansion in Latin America, Lafferty said.

Lafferty Group is also a major player in central banking and sovereign funds through the Official Monetary and Financial Institutions Forum, the organisation behind Central Bank governor Patrick Honohan's recent speaking tour of Asia.