IIC approves equity investment in Fondo de Infraestructura Evercore México
Washington, D.C. - On July 6, 2011, the Inter-American Investment Corporation (IIC) approved an equity investment of up to MX$125 million in Fondo de Infraestructura Evercore México.
The IIC will sell a participation of 50% of its equity investment to the China-IIC SME Equity Investment Trust Fund. The investment is subject to the Fund’s issuance of exchange-traded trust certificates Certificados Bursátiles Fiduciarios on the Mexican stock exchange. The Fund manager will be Evercore Protego Infraestructura S. de R.L.
"The IIC’s investment will help spur infrastructure development at the local and federal level, focusing on investments in municipal and state projects. The Fund will promote the development of social, hydraulic, and environmental infrastructure, public utilities, and communications and transportation. The IIC expects that supply chain operations will account for a substantial portion of the portfolio. Supply chain outsourcing to SMEs will therefore contribute to economic growth and the well-being of the population," said Goldie Shturman, IIC investment officer in charge of the operation.
"Fondo de Infraestructura Evercore México will encourage the efficient development of local infrastructure in Mexico through public-private partnerships. IIC participation will provide added impetus, sparking the interest of institutional investors and increasing the participation of other development financial institutions," according to the Fund’s CEO, Fernando Aportela.
About Fondo de Infraestructura Evercore México
Fondo de Infraestructura Evercore México is an equity investment fund that invests in infrastructure projects, primarily at the local level, through public-private partnerships. Its target amount is MX$2.5 billion; the main investors will be Mexican pension funds, the Fondo Nacional de Infraestructura (FONADIN), the IIC, and the Fund manager. The Fund has the support of experts in local infrastructure in Mexico, investment structuring, and private equity fund management. The Fund may make equity investments and provide financing for projects.
About the China-IIC SME Equity Investment Trust Fund
This fund specializes in venture capital investments in small and medium-sized enterprises in Latin America and the Caribbean. It was created by the IIC in 2009 with a contribution from the People’s Republic of China and is geared towards fostering growth and development in the region by means of equity and quasi-equity investments.
About the IIC
The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int
Contact: Goldie Shturman
Telephone: (202) 623-1665