Partner: PINFRA – is one of the leading concession operators in Mexico, is listed on the Mexican Stock Exchange (MCAP ~$3 Bn USD), and has 21 concessions for highways, bridges, port terminals, and 1 electronic toll operation contract.
Investment Closing Date: July 31, 2019
Operations Start Date: July 2, 2020
Benefits: Improves connectivity and safety in the USMCA corridor.
Partner: ALDESA – A subsidiary of China Railway Construction Corporation (CRCC), is a leading company in the engineering, design, and construction of railways, highways, bridges, tunnels, and urban mass transit systems, with revenues of ~$110 Bn USD.
Investment Closing Date: August 13, 2020
Expansion Start Date: January 2023
Benefits: Reduced travel time and increased user safety (less accidents).
Partners: Neology Inc - World leader in mobility, electronic tolling, compliance, security, and payment solutions technologies. Neology Inc has 50+ million tags in circulation, over 15 thousand toll booths operating worldwide, and over 50 thousand ALPR systems installed.
Investment Closing Date: December 22, 2021
Benefits: Provide greater electronic toll technology and legal compliance on highways and urban roads in Mexico and Latin America to increase efficiency, and thereby help operators achieve improved returns, while reducing traffic congestion and having a positive impact on citizens and the environment.
Hokchi Energy is a subsidiary of PanAmerican Energy, an Argentinian company that is a leader in hydrocarbon production with investments totaling $19 billion dollars. Hokchi Energy signed the hydrocarbon extraction contract with the CNH under the production sharing scheme for Contract Area 2, which was awarded during Round One’s second international public bidding process. The contract is for the evaluation and development of the Hokchi marine area, located in the Salina del Istmo Basin, in the Gulf of Mexico, off the coast of the State of Tabasco.
Asset Purchase Agreement Signed: December 9, 2021
Operations Start Date: May 13, 2022
Benefits: Hokchi is an attractive shallow water hydrocarbon production field in an advanced production ramp-up process, which will reach 33,000 boed.
Partners: InfraRed Capital Partners and INVEX Infraestructura – Are financial partners with assets under management of over $12 Bn USD worldwide and over $550 Mn USD locally, respectively. Both have extensive experience investing in and operating energy assets, including joint ventures.
Investment Closing Date: April 4, 2022
Operations Start Date: April 2018 (Torreoncitos and Rancho el Trece) and July 2019 (Ahumada)
Benefits: Clean energy generation using the latest technology in an area of the country with abundant solar resources, with an active economy that creates energy needs in the long term and with sufficient transmission capacity to export energy to the RNT.
The estimated Net IRR 1 of the portfolio at the end of 2022 in a base scenario and Hold to Maturity is 11.7%, while under a scenario with upsides, exit in 2029 and subtracting the carry to the manager, the estimated IRR for investors would be 15%.
1 Net of expenses to date (issuance and placement, trust, project due diligence, administration fee and J curve) and before carried interest.