Chilean pension fund manager AFP Habitat is the country's second largest AFP in terms of number of clients. It is controlled by the Chilean construction chamber (CChC) through its subsidiary Inversiones La Construcción (ILC). AFP Habitat offers a range of products and services, including savings accounts, pensions, multifunds and voluntary pension plans (APV). The company entered the Peruvian market in 2012, after winning a tender for new clients held in Peru, which was designed to increase competition in the country's private pension sector. In October, 2014, US-based firm Prudential Financial signed an MOU with ILC to buy a stake in Habitat and share control of the company. This operation would be completed during the first half of 2015. AFP Habitat was founded in 1981 and is based in Santiago, Chile.