BlackRock Mexico Infrastructure, a subsidiary of BlackRock, plans to raise another US$100 million at the end of this year in addition to the US$300 million it already has, as a result of a Certificate of Investment Projects (Cerpi), said Juan Alberto Leautaud Sunderland, president of BlackRock Mexico.
At the Foro Nacional de Infraestructura, organizado por el Instituto Mexicano de Ejecutivos de Finanzas (IMEF), the executive commented that BlackRock Mexico Infrastructure currently manages three funds, two of them dedicated exclusively to Mexico with a total amount of US$701 million and one that is in the process of capital raising.
In 2019 he plans to raise an International Fund to tie it with Cerpi, in order to complement them with the resources available in Mexico, added Leautaud.
He explained that the two funds concentrated in Mexico are fully committed and invested in the development of construction projects, so it is necessary to set aside the capital as it advances.
Leautaud believes that infrastructure projects that need an investment of between US$25 and US$150 million and mean a gross internal rate of return in dollars of 13% to 17%, represent opportunities to take positions.