Alsis Plans CCD Fund

US-based investment firm Alsis is planning to raise between $100m-$150m equivalent from Mexican pension funds. The CCD fund will invest in affordable housing in Mexico, says managing partner David Sanchez-Tembleque. He expects the funds to be raised by the end of April. BBVA Bancomer is handling the transaction. Alsis is also fundraising for a parallel fund, called the Mexico Opportunities Fund, targeting US-based institutional investors. It has already has already closed the first round with almost $38m in commitments from Calpers and OPIC. Sanchez-Tembleque expects to increase that amount to about $50m in the next 18 months. He explains that this is a mezzanine fund that will invest an average of $3m-$6m per project. “We invest in affordable housing developments with 1,000 to 2,500 units where homes are priced between $20,000-$50,000,” he says. The managing partner says that although Alsis will focus on Mexico for the next 2 years, it is also eyeing markets such as Colombia and Brazil to invest in affordable housing. Alsis has about $150m in AUM, and is focused on the Mexico market.