Mexico to Launch Energy Investment Fund

The Mexican government is preparing to launch an “umbrella” financing scheme designed to promote infrastructure and energy projects before the end of 2026. The financial vehicle already has a finalized structure and an appointed manager, according to Jorge Mendoza, CEO of the National Bank of Public Works and Services (Banobras): “We should be ready this year—hopefully within weeks.”

The creation of this mechanism marks a significant shift for developers and founders in the energy and infrastructure sectors. The signal sent to the market indicates that the main challenge is no longer the availability of capital but rather the capacity to execute projects operationally. As an indication of the scale of investment required, the Federal Electricity Commission’s (CFE) first joint call for proposals covers 38 projects across the country with an estimated investment of US$10.5 billion, while a second call has already attracted 40 registered projects.

The fund will be managed by the global firm I Squared Capital, which was directly selected by the Ministry of Finance and Public Credit to administer the fundraising vehicle. Regarding the mechanism’s operational functioning, Mendoza explained: “They are the managers selected by the Ministry of Finance for this vehicle. It will be managed privately and will receive financing from other market participants.”

By mid-September, the Ministry of Finance had formally notified local pension funds of the selection of I Squared Capital. These retirement savings fund managers oversee large-scale assets and are expected to play an important role in raising private capital to consolidate infrastructure projects in the country.