Peruvian private equity firm Nexus Group has closed of its international institutional fund, NG Capital Partners I, at $320 million. This exceeded the planned $250 million fundraising target, and hit the hard cap of $320 for institutional limited partner commitments, the firm announced Thursday. Shearman & Sterling LLP served as legal counsel to Nexus Group. MVision Private Equity Advisors acted as the placement agent for NG Capital Partners I.
Nexus Group (“NG”), a pioneer in Peruvian private equity, is pleased to announce the final closing of its first international institutional fund, NG Capital Partners I, L.P. (“Fund I”), at US$320 million.
NG’s Fund I exceeded the firm’s US$250 million fundraising target and reached the hard cap of US$320 million for institutional limited partner commitments.
NG has attracted the support of leading family offices, fund of funds, pensions and sovereign wealth from across the globe. Of the capital raised, approximately 35% was committed from local and regional investors, 20% from Europe, 30% from North America, and 15% from Asia/Middle East. In addition to institutional funding, the general partner, management team and associated affiliates have also made a significant contribution to the fund. Several of the new investors in Fund I are making their very first entry in both the Peruvian and Latin American private equity markets.
To date, NG Capital Partners I owns controlling or co-controlling stakes in five leading Peruvian firms: Colegios Peruanos (K-12 education), Tiendas Peruanas (Oechsle department stores), Financiera Uno (Tarjeta Oh! credit card), Inkafarma (leading pharmacy chain) and Bembos (leading fast food chain).
Shearman & Sterling LLP served as legal counsel to Nexus Group during the fundraise. MVision Private Equity Advisors acted as the global placement agent for NG Capital Partners I.
Background on Nexus Group
Nexus Group (“NG”) is a Peru based private equity firm focusing on specific investment opportunities provided by the Peruvian macroeconomic landscape. NG will make control or co- control equity investments between US$30‐45 million, focusing on creating significant value through strategic operational and financial improvements, including the appointment of senior NG professionals to management positions in portfolio companies.
The NG team is led by Managing Partners Carlos Rodriguez-Pastor, Juan Carlos Vallejo and Alejandro Ponce. The track record that the NG team has built over the last 13 years includes some of Peru’s leading companies, such as Cineplanet (leading movie theatre chain), Casa Andina (leading hotel chain), Supermercados Peruanos (second largest food retailer in the country) and Peruplast (leading firm for flexible packaging).