Mexican Infrastructure Fund Launched

January 14, 2010 ( - Macquarie Group has launched the Macquarie Mexican Infrastructure Fund (MMIF), with approximately Ps$5.2 billion ($408 million) in initial commitments from Mexican pension funds, FONADIN, and Macquarie.

MMIF is Macquarie’s first managed fund in Latin America, and, according to a Macquarie press release, it is the first peso-denominated fund solely focused on investment opportunities in Mexican infrastructure projects. The fund will target investments across infrastructure asset classes that include roads and rail, airports and ports, water and wastewater, energy and utilities, as well as social and communications infrastructure.

Mexico’s National Infrastructure Fund, FONADIN (Fondo Nacional de Infraestructura), has made an initial commitment of approximately Ps$1.04 billion ($81 million) to MMIF. FONADIN has also agreed to invest up to a total of Ps$3 billion (approx $230) as a cornerstone investor in the fund. The investment is FONADIN’s first direct investment in an infrastructure fund and is consistent with the Mexican Government’s broader National Infrastructure Program, the press release said.

In addition, seven of the leading Mexican pension funds have committed Ps$3.42 billion ($268 million) to the fund. Macquarie has committed Ps$750 million ($59 million).

“MMIF is an attractive investment opportunity that provides Mexican and international institutions with a vehicle to invest in a domestic infrastructure portfolio and contribute to the nation building goals set out in the government’s infrastructure plan,” said Mark Ramsey, Executive Director and President of Macquarie Capital in Mexico at a press conference at the Mexican Stock Exchange, according to the announcement.