IFC Invests in CCDs

The IFC has invested $50m in a Credit Suisse-run certificado de capital de desarrollo (CCD) fund of funds, the multilateral says. The CS fund was established last year to buy CCDs, Mexican equity certificate offering institutions access to private equity, and has now reached almost $550m in size. The investment follows the IFC participation last week in the IPO of Brazil’s CPFL Energias Renovaveis, buying BRL150m ($68m) of the renewable energy generation developers BRL1.04bn transaction.