Return to search

Carlyle raising first Mexico fund

The global private equity firm has followed up a recent investment in Mexico with its first fund focused specifically on the country.

The Carlyle Group is in the process of raising Carlyle Mexico Partners, which will invest in Mexican and US companies with a Hispanic customer base.

According to a filing on the International Finance Corp. (IFC) website, a Washington-based division of the World Bank Group, Carlyle Mexico Partners LP has a target size of $120 million (€102 million) and will target medium and large companies for “buyout and other private equity opportunities in Mexico and in US companies that have a significant Hispanic customer base or cross-border initiatives”.

The fund is expected to make five to eight investments of between $20 million and $50 million, acquiring controlling or significant minority stakes.

The IFC has a proposed commitment to the fund of $20 million in equity, up to a maximum of 19 percent of the total fund size, according to the website.

Carlyle made its debut investment in Mexico in late September, buying a majority stake in Universidad Latinoamericana SC (ULA), a private Mexican university, for an undisclosed sum.

Previously, Carlyle had indirectly invested in Mexico in July 2004 when it acquired Loews Cineplex Entertainment Corporation through its $3.9 billion 2000 vintage Carlyle Partners III fund.

Carlyle opened an office in Mexico City at the end of 2003.

According to Carlyle, the Washington-based firm has offices in 14 countries and manages a total of $30.9 billion in commitments across 32 funds.