MEXICO CCDs: Expanding Opportunity

MEXICO CCDs: Expanding Opportunity

Mexico M&A Equity Structured Finance

by Ben MillerAfter a pause of several months, a new round of certificado de capital de desarrollo (CCD) was gearing up to hit Mexico’s local market. The asset class, barely a year old, is still gathering momentum as a means for the country’s pension funds to invest in infrastructure and medium-size businesses via private equity (PE). Two deals that wrapped up at the end of July diversify the market’s offerings to include real estate and high-yield debt in the equity-like asset class that is sold in the debt market. The tradeable certificates offer equity participation in the business plan of the issuer, which can be a company, but is usually a fund. Buyers are typically Af

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