Evercore Mexico Capital Partners, the Mexican private equity arm of investment banking firm Evercore Partners, said on Tuesday that it has raised $201 million for Evercore Mexico Capital Partners III. EMCP III is a fund that will focus on making minority investments in family-owned and privately-held Mexican companies.
MEXICO CITY–(BUSINESS WIRE)–Jun. 18, 2013– Evercore Mexico Capital Partners (“EMCP”), a leading private equity investor in Mexico and the Mexican private equity business of investment banking firm Evercore Partners, today announced that it has completed fundraising for Evercore Mexico Capital Partners III (“EMCP III”), raising $201 million, its largest fund ever. EMCP III, which was oversubscribed, will continue to employ EMCP’s proven and successful strategy, focusing 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.
“We are very grateful for the strong support we received from our investors in our new fund,” said Pedro Aspe, Co-Chairman of Evercore Partners and EMCP Investment Committee Member. “The interest in EMCP III and the amount we were able to raise are a tribute to our consistent strategy and the hard work of our talented investment professionals. We have built a truly differentiated platform that combines deep local knowledge with proprietary, high-quality deal sourcing and direct access to key strategic and financial parties.”
EMCP III plans to invest $15 million – $30 million per investment opportunity. The fund includes a wide variety of institutional investors and family offices. Approximately 40% of EMCP III is composed of limited partners that invested in Evercore Mexico Capital Partners II.
“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. We are focused on family-owned and privately-held growth-oriented companies that seek partners with local knowledge and global vision, and that share our business values and principles.”
Representative companies in EMCP’s existing portfolio include Volaris, More Pharma and Grupo Axo. EMCP III has already made three investments: Intellego, Diavaz DEP and Grupo Casanueva Pérez.
“We feel honored to have the support of such a reputable and diversified investor base, and we greatly appreciate the confidence they have shown in us each and every day,” said Alejandro Capote, EMCP Managing Director and EMCP Investment Committee Member. “We strive to maintain a full alignment of interests among LPs, the general partner and the investment team, and will work diligently to maintain our investors’ trust moving forward.”
About Evercore Mexico Capital Partners
Evercore Mexico Capital Partners is the Mexican private equity division of Evercore Partners and manages more than $400 million dollars of committed capital. Other private equity investments in EMCP’s portfolio include: 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.
About Evercore Partners
Evercore Partners is a leading independent investment banking advisory firm. Evercore’s Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality research, sales and trading execution that is free of the conflicts created by proprietary activities; Evercore’s Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from its offices in New York, Boston, Chicago, Minneapolis, Houston, Los Angeles, San Francisco, Washington D.C., Toronto, London, Aberdeen, Scotland, Mexico City and Monterrey, Mexico, Hong Kong and Rio de Janeiro and São Paulo, Brazil. More information about Evercore can be found on the Company’s website at www.evercore.com.