(Bloomberg) Corp. Actinver SAB said it raised US$62.3m for a new Mexico-focused private-equity fund, joining KKR & Co. and General Atlantic LLC in exploring opportunities as the country revamps its oil industry.

The fund will take minority stakes in Mexican companies and hold them for three to five years before exiting through initial public offerings, Guillermo Rodriguez, the managing director overseeing the division, said in a telephone interview.

Mexico is attracting private-equity firms after economic overhauls last year broke the state oil company’s monopoly on drilling and increased competition in telecommunications. KKR, the private equity firm run by billionaires Henry Kravis and George Roberts, said in a May report that it’s targeting an overweight position in Mexico. General Atlantic made its first investment in a Mexican firm this year with a stake in drug company Laboratorios Sanfer SA.

The Actinver private equity business will invest in the retail, health and logistics industries, according to Rodriguez.