Mexico Real Estate Fund Defines CCD

Vertex Private Equity Investors is targeting a MXP2.3bn size for its real estate fund-based CCD transaction. The firm is also targeting a close of May 11, according to regulatory documents, though as with the total size, closing dates have been a moving target for CCD issues to date. Proceeds will be used to make investments in Mexican real estate assets. The 2020 transaction has a return structure similar to previous CCDs, repaying the initial investment plus up to a 9% annual return, with proceeds beyond that divided 80% for investors and 20% to the manager. Credit Suisse is managing the sale.