The Central American mezzanine infrastructure fund (Camif), which closed in 2009 at US$150mn, is offering long-term funding in 10 Latin American countries, fund manager EMP Latin America’s (Empla) senior associate, Lucas de Beaufort said.
The fund’s partners are IDB, the World Bank’s IFC, the Netherlands Development Finance Company (FMO), the Central American Bank for Economic Integration (Cabei), the Mexican Fondo de Fondos (CMIC) and the Finnish fund for Industrial Cooperation (Finnfund).
Camif offers long-term mezzanine financing to private infrastructure companies in Central America, Mexico, Colombia and the Dominican Republic.
The fund will focus on traditional infrastructure projects but it will also invest in related sectors such as water and sanitation, wastewater treatment, recycling and irrigation.
“Central America has huge infrastructure needs and given the dramatic drop in private sector capital flows to the region, Camif is very well positioned to make profitable mezzanine investments in this market environment,” Empla’s managing partner James Martin said in a release.
Mezzanine financing is proving to be a preferred solution for strengthening capital structures and attracting senior debt to viable projects, especially in Camif’s focus region.
Empla is a joint venture between EMP Global and the senior members of its Latin American team. EMP Global is a private equity fund manager focused on emerging markets.
Source: Greta Bourke, BNamericas.com [subscription site], 14 Jan 2010
