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Ashmore, Inverlink Win Management of New $500M Infrastructure Fund

March 29, 2009

Latin Finance reports (subscription required, the report is partial without a subscription) that the Colombian government has selected a bid by Ashmore Investment and Inverlink as managers of an infrastructure fund created by the government and the IDB. Macquarie Capital is to be the technical advisor.  The winning bid was one of five submitted. Projects are expected in sanitation, telecommunications, transport, energy, and logistics. Bancoldex (Banco de Comercio Exterior de Colombia) will be a 50% investor in the fund, which is formed as a private equity fund (or Fondo de Capital Privado, FCP).  The remaining 50% is divided equally between IDB and the Andean Development Corporation (Corporacion Andina de Fomento, CAF). With loans to the fund, Colombian government financing, and other private investment, plans are for $22Bn to be spent on more than 100 infrastructure projects.

More information on this fund and its plans can be gleaned from the Environmental and Social Report on the IDB’s website.

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