GBM Closes Debt CCD

Grupo Bursatil Mexicano (GBM) has raised MXP1.3bn ($101m) for a certificado de desarrollo de capital (CCD) fund, according to regulatory documents. The 5-year fund is to focus on making investments in debt assets, and expects a return of 6%-8%. The deal is the first in the CCD class to be placed without participation from pension funds, GBM says, instead relying on private banking and “other” institutions. The fund is GBM’s second CCD, following a 10-year infrastructure investment-focused fund launched last year with MXP750m and expected to eventually reach MXP3.75bn. This year’s CCD is to be pre-funded, as opposed to last year’s, which is reaching its target via capital calls. GBM managed the placement of the CCDs.