Colfondos S.A. Pensiones y Cesantías (Colfondos AFP) is a Colombian pension fund manager. Founded in 1991, it provides products and services in the area of mandatory and voluntary pensions, and unemployment insurance. The firm was controlled until 2009 by US-based Citibank, which sold its shares to Colombian holding company Mercantil Colpatria and private equity funds Palmfund Management and Linzor Capital Partners. In 2012, Canadian bank Scotiabank purchased a 51% controlling stake in Colfondos, as part of the Latin American expansion of its global wealth management area. Mercantil Colpatria retained 49% ownership.