September 1, 2010
by Ben MillerAfter a pause of several months, a new round of certificado de capital de desarrollo (CCD) was gearing up to hit Mexicos local market. The asset class, barely a year old, is still gathering momentum as a means for the countrys 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 markets 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
A wave of new CCDs is making its way to the Mexican market. Size and the diversity of underlying assets are slowly increasing.