Nexxus Fund Closes at $550m

Mexican private equity firm Nexxus Capital has raised $550m for its sixth fund, it says, above the $400m it targeted. Pension funds, sovereign wealth funds, endowments and other institutional investors participated. Nexxus VI includes MXP4.081bn ($312m) raised through a Certificado de Capital de Desarrollo (CCD) transaction closed in June. The economic terms of the limited partnership, which forms the other vehicle in the fund, are similar, targeting a preferred return of 10%. The CCD is denominated in pesos, while the other vehicle is dollar-denominated, according to a company representative. MVision Private Equity Advisers were lead global fundraising adviser, with Citi and Santander joint bookrunners on the CCD. The fund will buy into midsized companies primarily in Mexico.