Promecap closes CCD

Promecap closes CCD

Mexico’s Promecap has raised MXN3.5bn ($239m) of external investment, mainly from pension funds, through a certificado de capital de desarrollo (CCD) transaction named the Promecap Development Trust II, LatinFinance understands. Cash from Promecap and a group of private investors brought the deal to MXN5bn. The CCD can invest in mid-sized Mexican companies through debt and equity including distressed and performing assets. It has a maximum life of 10 years, and the first capital call, of MXN700m

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