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SURA and Credicorp Launch a US$86.5m Infrastructure Fund

29 May 2020

SURA Investment Management and Credicorp Capital Asset Management, together called Unión para la Infraestructura S.A.C (UPI), launched a US$86.5m target equity infrastructure fund focused on Pacific Alliance countries: Colombia, Chile, Peru, and Mexico. 

(Press Release) This equity fund, worth USD 86.5 million, shall be specifically focused on the Pacific Alliance countries, namely Colombia, Peru, Chile and, Mexico.

The main infrastructure sub-sectors on which the fund shall be focusing on have to do with the main Transport sector, that is to say ports, airports, roads, transport systems and both self-generated and renewable energy.

SURA Investment Management and Credicorp Capital Asset Management, which together make up the Investment Management Firm called Unión para la Infraestructura S.A.C (UPI), are launching an equity fund. valued at USD 86.5 million, for the purpose of investing private capital in high-impact infrastructure projects throughout Latin America.

This fund is aimed at financing infrastructure projects, this being a key sector for reactivating and developing the region, this with an important focus on the Pacific Alliance countries (Colombia, Peru, Chile and Mexico). It is precisely now with the push to revive the Latin American economies that this initiative has become a driving force for further development, including job creation. One of the Fund’s greatest attributes and differentiating factors is precisely the regional knowledge and presence that both Companies have built up. The team that makes up Unión para la Infraestructura (UPI), as the Fund’s direct management firm, has accumulated more than 60 years of experience in investing and managing infrastructure assets.

“Although we have been setting up this fund for some months now, now that we are immersed in the current situation, and in our role as financial partners and asset managers, we are ready and able to promote projects that shall have an important impact on reviving the region’s economy. This alliance is allowing us to place at the disposal of our investors the best possible experience in handling and managing infrastructure assets, for the purpose of creating added value, optimizing capital structures and bringing to bear our superior capacity for supervising and actively engaging in key decisions during the construction and operating stages of the projects undertaken” stated Pablo Sprenger, CEO of SURA Investment Management

“The infrastructure sector has over time been a major driver of competitiveness as well as economic and social development. We are committed to continuing to help drive growth throughout the region, as part of this alliance, and in particular with this infrastructure fund, which we believe shall make a real contribution to the reviving our economies and creating jobs, which in the end provides greater well-being for the public at large. This is because we have a strong regional team of staff, dedicated to managing and developing investment opportunities in Latin America for both our domestic and international clients,” stated James Loveday, Head of Credicorp Capital Asset Management.

This fund is also configured as an opportunity for attending all those infrastructure projects that need new resources, given the difficulties that some investment companies are having, in the light of the current crisis, and who now must prioritize their core business and set aside infrastructure projects and construction work that are not directly related to their main business.

The main infrastructure sub-sectors on which the fund shall be focusing on have to do with the main Transport sector, that is to say ports, airports, roads, transport systems, and both self-generated and renewable energy. This has become even more relevant given that, in the current health, economic and social situation, governments are prioritizing their investments in the health sector while attending to the more vulnerable segments of the population. Therefore, investments in key infrastructure development projects, such as those described above, require the support and encouragement of the private sector.

“This Equity Fund offers great opportunities and I would like to make special mention of the projected investments renewable energy. Also, given current market conditions, it makes a lot of sense to invest in greenfield projects (i.e. those still at a construction and/or development stage) so as to support the economic recovery that the different Latin American countries shall be needing,” added César Ramirez, the Fund’s Portfolio Manager.

About SURA Investment Management

SURA Investment Management is an Investment Unit belonging to SURA Asset Management dedicated to managing assets and investments for the institutional segment. Our knowledge and extended presence in several Latin American countries, having been articulated on our regional platform, makes us an optimal investment vehicle capable of linking the region up with the global markets.

We create tailor-made solutions for our clients, so as to help enhance their competitiveness, for which we have nearly 500 funds and investment mandates dealing in equity, fixed income, multi-asset, insurance, stewardship arrangements, alternative assets, among others. We developed a regional platform with scalable operating models with the highest standards in portfolio management and institutional client relationships.

About Credicorp Capital Asset Management

Credicorp Capital Asset Management is one of the largest investment advisory firms in Latin America, holding USD 20 billion in assets under management and providing its consulting and other related services The Company’s vision is to become the leading Latin American asset manager for investors both within and outside the region. It currently has an important presence in Chile, Colombia, Panama, Peru and the United States, and has been investing in the region for more than 25 years.

It receives the backing of the Credicorp Group (NYSE: BAP), Peru’s leading financial holding company, with more than 130 years of experience in the financial sector.