GBM Clinches Infrastructure CCD

Grupo Bursatil Mexicano (GBM) has closed on a MXP750m ($57m) certificado de capital de desarrollo (CCD) transaction, representing the first close of a fund targeting MXP3.75bn, it says. The remaining 80% is to be funded through capital calls. The brokerage operator and fund manager’s 10-year deal will target investment in communications, water, transportation, oil, power and renewable energy projects. Investors are to receive their initial investment plus up to a 10% preferred return, with additional proceeds being divided 80% to investors and 20% to GBM. GBM has a track record of private infrastructure investments in Mexican companies including Grupo Mexico, TMM and Pinfra, and counts former SCT undersecretary Manuel Rodriguez as the general manager of the fund. GBM’s brokerage unit managed the sale.