- This USD 86.5 million Equity Fund will have a special focus on the Pacific Alliance countries: Colombia, Peru, Chile and Mexico.
- The fund will be directed at two main infrastructure sub-sectors: Transport, which comprises ports, airports, roads, and transport systems; and Energy, both renewable and self-generated.
SURA Investment Management and Credicorp Capital Asset Management, which jointly constitute the investment manager Unión para la Infraestructura S.A.C (UPI), launch an USD 86.5 million Equity fund to invest private resources in high-impact infrastructure projects in Latin America.
This fund seeks to finance infrastructure projects –infrastructure being a key sector for the reactivation and development of the region–, focusing mainly on the Pacific Alliance countries (Colombia, Peru, Chile and Mexico). Within the framework of a much-needed economic recovery in Latin America, this initiative sparks a dynamic of development that will bring, among other outcomes, employment generation. One of the fundamental attributes that differentiates this fund is the regional insight and presence that both companies have. Unión para la Infraestructura (UPI) –the fund’s direct manager– is composed of a team that has over 60 years of experience in investment processes and infrastructure asset management.
"Although we have been shaping this fund for quite a few months now, given the current circumstances, and as financial partners and asset managers, we are ready to use our capabilities to promote projects that have a significant impact on the economic reactivation required by the region. This partnership allows us to deliver the best experience in infrastructure asset management and administration, generating value, optimizing capital structures, and providing a high level of competence for monitoring and actively participating in key decisions during the projects' construction and operation phases", stated Pablo Sprenger, CEO of SURA Investment Management
"Over the years, the infrastructure sector has been a key driver for competitiveness and economic and social development. We have a commitment to continue our contribution towards the growth of the region within the framework of this partnership, and in particular with this infrastructure fund, which we believe will contribute towards the economic reactivation of our countries, and the generation of employment, ultimately leading to an increased well-being for society. This is possible thanks to our strong regional team dedicated to managing and developing investment opportunities in Latin America for our local and international clients", indicated James Loveday, Head of Credicorp Capital Asset Management.
This fund is also shaped as an opportunity to address infrastructure businesses that will require new resources given that, due to the current circumstances, some investment companies are experiencing difficulties and must prioritize their core, while setting aside all infrastructure projects and construction sites that are not directly related to their business.
The fund will be directed at two main infrastructure sub-sectors: transport, which comprises ports, airports, roads, transport systems; and energy, both renewable and self-generated. In the scope of the current health, economic and social context, this is all the more important given that Governments are prioritizing their investments in the health sector and in caring for vulnerable populations. Therefore, investments in key infrastructure projects for development, such as the ones described above, require support and advancement from the private sector.
"The Equity Fund has great opportunities and I particularly want to point out investments in renewable energy. Additionally, in view of the current market circumstances, it makes a lot of sense to invest in greenfield projects (projects in construction and/or development stage) in order to support the economic reactivation that the different Latin American countries will need", added César Ramirez, Portfolio Manager of the Fund.
About SURA Investment Management
SURA Investment Management is the Unit of SURA Asset Management dedicated to asset and investment management for the institutional segment. Our knowledge, together with our broad presence in several Latin American countries, all integrated into a single regional platform, make us an optimal investment vehicle connecting the region with global markets.
We create tailored solutions for our clients, seeking to contribute to their competitiveness, benefiting from about 500 funds and investment mandates in equity, fixed income, multi-asset, insurance, mandates, and alternative assets, among others. We develop a regional platform with scalable operating models and high standards in portfolio management and institutional customer relations.
About Credicorp Capital Asset Management
Credicorp Capital Asset Management is one of the largest investment consulting firms in Latin America, with USD 20 billion in assets under management and assessment. The company’s vision is to be the main manager of Latin American assets for investors both in and outside of the region. It currently has a significant presence in Chile, Colombia, Panama, Peru and the United States, and has been investing in the region for over 25 years.
Credicorp Capital Asset Management is backed by Credicorp group (NYSE: BAP), the leading financial holding company in Peru, with over 130 years of experience in the financial sector.