Investors Roll out Energy CCD

A group of Mexican investors is planning to raise up to MXP7bn ($544m) in a certificado de capital de desarrollo (CCD) fund targeting investment in the country’s energy and infrastructure space, according to regulatory documents. Mexico Infrastructure Partners, a recently created entity headed by former government energy official Mario Budebo, plans a 12-year fund raising MXP1.4bn at first and reaching up to MXP7bn through capital calls. The CCD fund, along with a parallel private equity fund, plans to invest in greenfield and brownfield energy projects, including renewable and non-renewable, as well as infrastructure projects. The fund, known as Fomento a la Energia e Infraestructura de Mexico, has a 5-year investment period. Investors should receive their initial investment plus a 9% preferred return, with remaining proceeds split 80%-20% between investors and the manager. Santander is managing the transaction, for which timing is unclear.