Colombia's AFP Porvenir is a pension and unemployment fund manager owned by local financial conglomerate Grupo Aval. Founded in 1991 and based in Bogotá, the firm offers pension management services, retirement insurance, and investment alternatives. Its subsidiary, Gestión & Contacto, provides pension-related information systems designed to provide employees with efficient payment solutions. In late 2013, the company completed a merger process with AFP Horizonte, a local pension fund unit acquired by Grupo Aval from Spain's BBVA. The transaction created the largest pension and severance fund administrator in the country.