Darby Stratus Makes Mezzanine Loan

Darby Stratus, a joint venture between Darby Overseas Investments and Brazilian private equity manager Stratus Group, has made a mezzanine loan of BRL58m to energy generator and distributor Eletrogoes. Proceeds help finance the construction of hydroelectric and thermoelectric plants in Brazil’s Amazon region, Fernando Gentil, MD at Darby, tells LatinFinance. The loan comes from the Mezzanine Infrastructure Fund, which has BRL387.5m. Gentil says the facility combines fixed income and an equity kicker. The kicker, which makes up about 25% of the loan, will allow the lender to gain participation in the revenue the plants generate, he says. The plants will generate 100MW and should start producing in October. Gentil says this is the first investment the fund makes. “We are looking at opportunities in waste management, logistics companies and other renewable energy projects such as wind power,” he adds.