Europe and US Trade Assets

Sep 22, 2007

As increasing power demand ramps up power asset prices, European and domestic entities are picking up LatAm units cast off by US investors.

After a dark period in the early years of the decade following the collapse of Enron and choppiness in Latin American markets, renewed interest has steadily pushed up prices for electricity generation, transmission and distribution assets in the larger countries. New participants – including domestic utilities, private equity (PE), pension funds and foreign dedicated power funds – are entering as international players realign themselves in the global power building boom by exiting. Asset prices are expected to remain strong in line with demand.

"Right now, there are more buyers than sellers," says Scot Swenson, chairman of New York-based Conduit Capital Partners, an investment firm with $650 million in three funds dedicated to generation assets and greenfield projects in LatAm. Conduit, with advisor BNP Paribas, is taking bids on a 939-megawatt portfolio of Caribbean and LatAm generation assets associated with its Latin Power I and Latin Power II funds. The...

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