Banorte plans to invest Afores money in infrastructure

 

 

Banorte plans to invest Afores money in infrastructure

Grupo Financiero Banorte , one of the largest in Mexico, plans to launch a vehicle for infrastructure investments of around 3,000 million dollars in the coming months, through the creation of an alliance between its retirement fund and North American partners. In this way the retirement fund afore XII-Banorte will put half and its partners the rest. The Afore XXI-Banorte has registered resources in Mexico worth 809,000 million pesos (53,000 million dollars).

      The partners in this alliance will be Canadian or American, but they have not wanted to give more details because they are still in a confidential phase of the process.

 

      Marcos Ramírez, head of Grupo Financiero Banorte indicated:

 

      We are very aware that the future comes from infrastructure. We have been seeing it for some time (…) we are going to announce it (the vehicle) in a few months.

 

      Banorte shares closed on Thursday at 89.4 pesos, down 0.20 percent.

 

Will it be a good investment for the resources of the afore?

 

 

 

BlackRock seeks to invest in infrastructure projects in Mexico

It seems that BlackRock also plans to invest money in infrastructure as Banorte, can it be a good time to invest money in infrastructure?

      BlackRock is one of the largest asset managers in the world and is looking to invest in infrastructure projects in Mexico. As Mexico has opened up to foreign capital in recent years, BlackRock, the infrastructure investment group, sees the opportunity to create a team of specialists to work outside the office they have in Mexico City.

 

      The CEO of BlackRock, Larry Fink commented: Mexico is finally beginning to unlock its true potential as an economic powerhouse In the coming decades, capital will flow more effectively in Mexico, the workforce will be the most capable, and it will be easier to do business. The challenge for BlackRock is undoubtedly that many institutional investors, including the private equity firm, KKR, are also looking to invest in infrastructure projects in Mexico.

 

 

BlackRock seeks to invest in infrastructure projects in Mexico

      See message from Andrea Broseta

The Retirement Fund Manager Sura is also interested in acquiring some assets for sale from the ICA construction company and also from other infrastructure companies. The manager of afore Sura commented that his main interest would be to focus on road assets and also clarified that Afores already have this type of project in their portfolios. But I clarify that currently the Afore can not buy them, but if there is the possibility of associating with an administrator and then the Afore Sura could part of the money and a third would be who would handle it.