Caisse de dépôt et placement du Québec (CDPQ) recently announced a five-year, $2.1 billion co-investment vehicle for infrastructure projects in Mexico through an association with CKD Infraestructura México.
The agreement comes as Mexico is experiencing solid economic growth and the government is expect to invest $4.5 billion in infrastructure investments. For both companies, the new platform represents an opportunity to engage in this modernization.
The project will offer a range of investment opportunities in sectors such as energy, distribution, transmission and transport.
CDPQ and CKD will commit $1.1 billion and $1 billion, respectively. The Canadian company will hold a 51 percent interest in the co-investment vehicle, while CKD will hold 49 percent. Current shareholders of CKD are Mexican pension fund managers (Afores) XXI Banorte, SURA, Banamex, Pensionissste and infrastructure fund Fonadin.
"When we look around the world, especially in the infrastructure sector, Mexico stands out as an exceptional country to invest in,"
CDPQ President and CEO Michael Sabia said. "Given the scope of the opportunities in this sector, we are pleased to join forces with leading Mexican institutional investors. By combining their in-depth knowledge of the market and local networks with our infrastructure expertise, we are creating an innovative investment platform that is ideally positioned to find and invest in the best Mexican infrastructure projects."
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