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Alsis Funds closes Mexico affordable housing fund with Global Opportunities Fund 2 as initial investor

16 February 2011

(Alsis Funds) February 16, 2011 – Investment management firm Alsis Funds announced today the initial closing of its Alsis Mexico Opportunities Fund (Alsis Mexico), with a first capital commitment from Global Opportunities Fund 2 (CalPERS), a separate account managed by 57 Stars for the California Public Employees’ Retirement System.

Alsis Mexico will support the growth of affordable housing in Mexico through investments in home construction developments. The fund is a private equity investment vehicle targeting affordable housing and other assets in Mexico. Alsis Mexico will invest through privately negotiated transactions, using debt, equity, or mezzanine financing.

Alsis Mexico has a maximum capitalization of USD 57.8 million. A minimum of 80% of investments within the fund will be in affordable housing. The fund will invest as a parallel vehicle to the Fondo Alsis Mexico Vivienda de Interés Social (FAMVIS), another Alsis Funds investment entity which is expected to be capitalized primarily by Mexican pension funds (AFORES).

“As one of the first pools of capital focused on affordable housing development in Mexico, this investment fund will have a significant economic impact, broadening the liquidity for the housing market and expanding the homeownership base in the country,” said Alsis Funds Managing Partner David Sanchez-Tembleque.

Alsis Funds is an investment management firm focused in Latin America. With offices in Miami and Mexico City, Alsis Funds also manages the Alsis Latin America Fund, a vehicle that invests in asset-backed structured transactions. The firm currently manages assets and commitments of USD 150 million from institutional investors, including the Overseas Private Investment Corporation (OPIC), a US Government Agency.

57 Stars is an independent global investment manager owned and managed by its investment team with more than USD 1 billion under management focused on partnership and co-investment in select private equity markets outside of the United States, primarily in emerging markets. 

CalPERS, with approximately USD 222 billion in assets, is the nation’s largest public pension fund and administers retirement benefits for more than 1.6 million active and retired State, public school, and local public agency employees and their families.