Sun, Aug 30, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Private Equity Strategies

Movers and Shakers: Evercore Partners Raises Second and Largest Ever Fund

Saturday, June 22, 2013

Bailey McCann, Private Equity Strategies

Evercore Mexico Capital Partners, private equity investor in Mexico and the Mexican private equity business of investment banking firm Evercore Partners, has completed fundraising for Evercore Mexico Capital Partners III (EMCP III), raising $201m, its largest fund ever. EMCP III, which was oversubscribed, will focus on making minority investments in high-growth, family-owned and privately held Mexican companies and working with these companies’ management teams to generate additional value.

EMCP III plans to invest $15m - $30m per investment opportunity, taking minority stakes of 16-20% in portfolio companies although sources familiar with the fund say they are open to majority positions. The fund includes a wide variety of institutional investors and family offices, many of which are located in Mexico but also include investors in the US and EU. Approximately 40% of EMCP III is composed of limited partners that invested in Evercore Mexico Capital Partners II.

Evercore’s portfolio previously included investments in Volaris, the second largest airline in Mexico; Lipu, the largest school and employee transportation company in Mexico; More Pharma, a Mexican specialty pharma company; Grupo Axo a brand management company and Servicios Corporativos Javer, the largest private housing developer in Mexico.

The EMCP III Fund has already made new investments in three more companies - Intellego, Diavaz DEP and Grupo Casanueva Pérez. Sources familiar with the fund say that companies targeted by the firm have in general an EBIDTA of $16bn, and that the fund is interested in portfolio companies across all sectors of the Mexican economy, including those that have not previously had private equity investment.

“EMCP III aims to capitalize on a highly attractive and stable Mexican macroeconomic environment,” said Alfredo Castellanos, EMCP Managing Director and EMCP Investment Committee Member. “The growing demand for products and services of a rapidly growing middle class coupled with Mexican companies in the process of modernization should present attractive investment opportunities.

 
This article was published in Opalesque's Private Equity Strategies our monthly research update on the global private equity landscape including all sectors and market caps.
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies
Private Equity Strategies


Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  2. Activist News - Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping, Meet Europe's best activist investor[more]

    Carl Icahn has snapped up a huge stake in Freeport-McMoRan, and the stock is ripping From Businessinsider.com: Carl Icahn has picked his next target: Freeport-McMoRan. Icahn and a group of other investors have snapped up an 8.46% stake in mining company Freeport-McMoRan, according to a j

  3. North America - Hedge fund manager Ray Dalio’s challenge to the Fed[more]

    From Newyorker.com: For some reason, Janet Yellen, the chair of the Federal Reserve, decided to skip this year’s annual Fed conference in Jackson Hole, where monetary policymakers from the United States and abroad get together with some prominent academics to discuss the big issues of the moment. Th

  4. Opalesque Exclusive: Credit-focused hedge fund Numen Capital expects more volatility in Europe in coming months[more]

    Benedicte Gravrand, Opalesque Geneva: A London-based hedge fund, which has just hired two emerging managers, is cautious on Europe. Vassilis Paschopoulos and former Lehman’s colleague Nikos Kargadouris, launched a London-based credit-focused hedge fund called

  5. Performance - Hedge funds bruised by stocks’ meltdown, Capstone’s volatility hedge fund is having a monster month thanks to market mayhem[more]

    Hedge funds bruised by stocks’ meltdown From WSJ.com: Hedge-fund managers like to promise their investors protection from market swings. In the recent stock swoon, many were caught off guard. Billionaire managers such as Leon Cooperman, Raymond Dalio and Daniel Loeb are deeply in the red

banner