Conduit Capital Exits Peruvian Pipeline Project

Conduit Capital Partners has agreed to exit its stake in the Peruvian pipeline project Gasoducto Andina del Sur. The firm is selling its stake to Odebrecht, the Brazilian construction conglomerate. Terms of the deal were not released. The project is a 1,100-kilometer gas pipeline running from the Camisea fields to the southern region of Peru, the firm said in a statement.

PRESS RELEASE

Conduit Capital Partners LLC, a private equity investment firm focused on energy infrastructure investment in Latin America and the Caribbean, today announced that it has agreed to sell its remaining interest in the Peruvian pipeline project Gasoducto Andina del Sur (“Kuntur”) to Odebrecht, the Brazilian construction conglomerate.  The project consists of an integrated 1,100 km gas pipeline that will transport natural gas from the Camisea fields to the southern region of Peru.  Terms were not disclosed.

 

Marc Frishman, Managing Partner at Conduit stated: “We are pleased to have added such significant value to this visionary project which is critical to the continued development of Peru. The arrival of natural gas to the southern region will result in dramatic improvements, including modern industrialization and associated employment opportunities.  Odebrecht has a broad range of expertise and shares our vision for this project, and we are very pleased that they will continue building on the progress we’ve made to drive this important project forward.”

 

Conduit made its initial investment in the Kuntur project in 2008 when it was awarded a 30-year concession contract by the Government of Peru to build the 1,100 km pipeline that will carry attractively priced, natural gas from the Camisea gas fields to the port of Ilo in Southern Peru.  Since that time, Conduit has worked successfully with its local management team and the Peruvian government to fully develop the project, conducting extensive environmental studies and community outreach, and developing detailed engineering and financial structuring plans.  In early 2011, Odebrecht became a partner in the project.

 

About Conduit Capital Partners

Based in New York City, Conduit Capital Partners, LLC is a private investment firm focused exclusively on energy infrastructure investment in Latin America and the Caribbean.   Through its management of the Latin Power Funds, Conduit has made investments in Mexico, Chile, Peru, Brazil, Colombia, Jamaica, Honduras, Panama, Costa Rica, Argentina and Guatemala.  Founded in 1993, Latin Power I was the first private equity fund exclusively dedicated to infrastructure investments and the first institutional sized private equity firm dedicated to Latin America.

 

 

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