In contrast, when electricity firms are controlled by investment funds, rather than forming part of transnational companies, there is less opportunity for operational synergies and knowledge transfers within the enterprise. If the presence of investment funds in the sector were to expand, it could produce a business model in which ownership of the assets (by the investment funds) is separated from their management ( in the hands of the electricity firms), in a system similar to that operated by some hotel groups. In that year, it purchased 38% of EDENOR, one of the leading energy distributors in Argentina. Later it increased its interests in this country with other transmission and generating companies.