Mexican Infrastructure Fund Commits Additional Investment in Mexico Tower Partners
30 Mar 2015
Macquarie Mexican Infrastructure Trust I (MMIT I) (BMV:FIMMCK) today announced that Macquarie Mexican Infrastructure Fund (comprising MMIT I and Macquarie Mexican Infrastructure Trust II) (MMIF) has agreed to make a follow-on investment in Mexico Tower Partners (MTP) to fund the acquisition of a significant portfolio of wireless and broadcast telecommunication sites in Mexico. Scotiabank is the agent and bookrunner for the debt financing of the acquisition. Scotiabank Inverlat, S.A. Institucion be Banca Multiple, Grupo Financiero Scotiabank is the agent and bookrunner for the debt financing of the acquisition.
"We continue to believe the wireless tower industry in Mexico presents attractive opportunities for independent operators such as MTP and are pleased to announce this additional investment," said Jonathan Davis Arzac, Chairman, MMIF. "The portfolio that MTP will acquire is an excellent asset as there are few independent portfolios of this size in Mexico. This acquisition will also serve to further diversify MTP's customer base."
MTP is a 50/50 joint venture between MMIF and Digital Bridge, a leading global communications infrastructure platform. MTP was established in May 2014 after MMIF and Digital Bridge merged their existing telecommunications tower portfolios in Mexico to form the second largest independent telecommunication towers business in the country. Upon completion of the acquisition, which is expected to close in the second quarter of 2015 subject to customary closing conditions, MTP will have a portfolio of approximately 1,200 towers under management.
Once the follow-on investment is fully funded, MMIF will have invested a total of approximately Ps.1,300 million in MTP.
About Macquarie Mexican Infrastructure Fund
Macquarie Mexican Infrastructure Fund (MMIF) is Macquarie Group's first managed fund in Latin America, and is the first peso-denominated fund focused solely on investment opportunities in Mexican infrastructure projects. MMIF targets investments across infrastructure asset classes that include roads and rail, airports, ports, water and wastewater, energy and utilities, as well as social and communications infrastructure.
MMIF comprises two trusts, Macquarie Mexican Infrastructure Trust I and Macquarie Mexican Infrastructure Trust II, and is managed by Macquarie México Infrastructure Management, S.A. de C.V. which operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group.
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie's main business focus is making returns by providing a diversified range of services to clients. Macquarie acts on behalf of institutional, corporate and retail clients and counterparties around the world. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries. Macquarie employs approximately 14,100 people and has assets under management of over US$372 billion (as of September 30, 2014).
Macquarie Infrastructure and Real Assets, a division of Macquarie, is a leading global alternative asset manager specializing in investments across infrastructure, real estate, agriculture and energy. Macquarie Infrastructure and Real Assets manages 50 funds with US$100 billion of assets under management across 25 countries (as of December 31, 2014).