CCD Targets Mexican Residential Developers

CCD Targets Mexican Residential Developers

Mexico Equity

Gaia Capital is preparing a credit-focused fund of up to MXP1.2bn ($92m) for Mexico’s certificado de desarrollo de capital (CCD) market, according to a prospectus. The 10-year fund is targeting MXP240m in the first close, and build the remainder through capital calls. Gaia is a new entity formed this year by former Sociedad Hipoecaria Federal (SHF) head Javier Gavito and several other former SHF officials. It will use the funds raised from Afores to invest in mezzanine debt from Mexican resident

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