Macquarie Mexico fund in €38m university deal

The fund has acquired a 100% stake in the Universidad Politecnica de San Luis Potosi from Spanish developer Acciona.

The Macquarie Mexican Infrastructure Fund has acquired a university project from Spanish developer Acciona, the latter announced yesterday.

The university concession – know as the Universidad Politecnica de San Luis Potosi – was sold for an enterprise value of some €38 million and carries about €14 million of net debt. Acciona noted the sale price “will be adjusted on the day of the effective transmission of the stake”.

The Spanish developer said the sale was part of its strategy of divesting mature assets, but stressed that Mexico continues to be “a strategic market for Acciona, where it enjoys a solid footing in infrastructure, renewable energy and water”. 

Macquarie’s Mexican fund hit the headlines earlier this year when it reached financial close on Latin America’s biggest single-stage wind farm, backed by a syndicate of commercial and development banks. In addition, the fund has also acquired an €89 million, 326-kilometre road public-private partnership and 199 telecommunication towers across Mexico.

Macquarie’s debut Mexican infrastructure fund is a combined listed and unlisted trust. The fund held a first close in 2010 and is thought to be targeting just upwards of $1 billion.