PineBridge Completes Second Close of Mexican Certificados de Capital de Desarrollo (“CKD’) With Total Capital Commitments in Excess of US$200 million
PineBridge Investments (“PineBridge”), the global multi-asset class investment manager, is pleased to announce the second close of its Mexican CKD of private markets funds on September 27, 2012. The fund closed with a total of MXN$2,681,250,000 (approximately US$209MM) in capital commitments.
PineBridge’s offering is the first pure private markets fund of funds CKD to be issued and publically listed in the Bolsa Mexicana de Valores and highlights the firm’s commitment to delivering innovative investment solutions to its clients. The CKD’s diversified portfolio will be comprised of private equity (growth equity and buyouts), private infrastructure, and private credit funds in the Mexican market that allows institutional investors to expand their investment opportunity set by granting them access to private markets funds that are otherwise unavailable to them through the traditional CKD market.
The development of the CKD fund of funds demonstrates the continuation of PineBridge’s business development plans in Latin America, where it has served the local institutional investor community for more than a decade.
“The second closing of our Mexican CKD marks another successful investment and capital raise for PineBridge, and we’re very proud of this achievement. The offering attracted broad interest, and we appreciate the confidence that the market, as well as our investors, continue to show in PineBridge. We look forward to continuing to bring our innovative and forward-thinking private equity investment capabilities to new markets,” said Steve Costabile, Global Head of PineBridge’s Private Funds Group.
“PineBridge has had a Latin American presence for more than a decade. We believe that Mexico, specifically, as an evolving economy and promising Latin American investment center, is an important region with broad investment potential for us to capitalize on,” added Alejandro Rodríguez, Director at PineBridge in Mexico City. “We believe that the closing of this CKD is just the first of many prosperous ventures in this country as we continue to seek out unique opportunities for our investors.”
“PineBridge has a proven track record of meeting our client’s investment needs by bridging global investment opportunities from emerging and developed markets via our integrated investment platform. Specifically, our market leading presence and experience across emerging markets makes us a qualified partner to institutional investors in Latin America. We are proud to be in a position to be able to be an asset for this burgeoning group of economies,” said Sergio Ramirez, Managing Director for Business Development at PineBridge.
PineBridge’s Mexico City office is staffed by local investment professionals with a strong network of contacts in the country and across the region and allows PineBridge to leverage its global investments teams to apply best practices and global execution standards to its local investments. PineBridge’s Mexico City office investment services extend beyond private equity fund investments in the region, offering investment opportunities derived from the Firm’s broad investment platform.
About PineBridge Investments
PineBridge is an independent asset manager with over 60 years of experience in developed and emerging markets. We manage over US $68 BN across our platform for institutional and individual investors worldwide as of 30 June 2012. Our globally integrated investment platform offers innovative, core and specialized alpha-oriented solutions across asset allocation, equities, fixed income, private equity and hedge funds. What makes us different is our integration of on-the-ground investment teams across asset classes, allowing us to combine global perspectives with structured insights.
For additional information on PineBridge Investments, visit www.pinebridge.com