Ultrabursatiles Plans Colombia PE Fund

Colombia-based brokerage Ultrabursatiles is launching a private equity unit, Ultracapital. Its first fund will acquire and lease commercial real estate, CEO Susana Gomez tells LatinFinance. “We expect to raise COP200bn ($109m) and to have a first closing in February,” Gomez says. Ultrabursatiles will begin marketing the fund this month and will approach local and foreign institutional investors, she says. A portion of proceeds from the leases will go to repay investors. Gomez, who expects returns of about 9% per year, says that the fund will invest in Colombia’s largest cities.