Thu, Apr 24, 2014
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


Banner
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. Opalesque Exclusive: Rainwater and Blue Sky - an Australian water fund emerges[more]

    Bailey McCann, Opalesque New York: Financial reporters often tout new funds and investments as uncorrelated investments, but few can say they are uncorrelated to everything but weather. Enter Blue Sky Alternative's water fund which invests in the permanent rights to Australia's water. Sev

  2. Regulatory – Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades, Alternative funds to get SEC test for leverage, liquidity[more]

    Expect greater SEC scrutiny of hedge funds that share information or collaborate in advance of their trades From Thelawyer.com: A recent Wall Street Journal article — ‘Activist investors often leak their plans to a favoured few’ — focused attention on ‘activist’ investors and stock analy

  3. …And Finally – This week's least competent criminal is Austrian[more]

    From ABCnews.go.com: A German sought by authorities for alleged fraud has been arrested in Austria — after dropping into a police station to ask officers whether he was under investigation. Police in Salzburg said the 59-year-old man walked into a police station in the city on Friday night. Sp

  4. Investing – Hedge funds find pitfalls along with profits in real estate ventures, Marcato Capital Management makes new bet on Dillard’s[more]

    Hedge funds find pitfalls along with profits in real estate ventures From Law360.com: Hedge funds have joined the rush to real estate deals and development in recent months to close the financing gap left by tightening bank standards, but attorneys say many aren't prepared for the disclo

  5. South Korea’s state fund plans to double alternative investments[more]

    From Businessweek.com: Korea Investment Corp., the nation’s $72 billion sovereign wealth fund, plans to double alternative investments over the next 10 years to compensate for declining returns from stocks and bonds. “We’ll have to embrace the lower return expectation from traditional assets and tha