PineBridge Close to CCD

PineBridge Investments is close to completing a transaction of up to MXP800m ($60m) in Mexico’s Certificado de Capital de Desarrollo (CCD) market, according to regulatory documents. The amount represents the CCD fund’s first close, and is heard to be around 20% of the total targeted amount. The 2022 deal is structured as a fund of funds, and will raise funds for private equity investments across sectors in Mexico. The fund is focused on private equity investment, but could also make some private credit investments. Finamex is managing the sale, structured by its Fimecap unit and Westwood Capital Advisors. In June, AGC Controladora raised MXP553m in the first closing of a fund of funds CCD. Government-backed Corporcaion Mexicana de Inversiones de Capital (CMIC), also known as Fondo de Fondos, is also preparing a MXP1bn-MXP5bn transaction.