Macquarie Capital, the corporate advisory, principal investing and capital markets arm of Macquarie Group yesterday announced an agreement to form Macquarie Development Corporation, an investment corporation that will invest equity in pre-construction infrastructure development projects in Latin America.
Macquarie Capital will partner with foundation shareholders China Communication Construction Company (CCCC) and Banco Modal and expects additional shareholders to participate in the coming months.
“We are excited to launch Macquarie Development Corporation,” said Nick Butcher, Head of Infrastructure for Macquarie Capital in the Americas. “MDC will utilize the unique expertise of Macquarie Capital in infrastructure and energy development across the Americas to capture what we believe is a growing pipeline of high-quality investment opportunities linked to the growth of these markets. We look forward to working with our partners to source, develop and finance much-needed infrastructure development projects.”
“A shortage of development capital continues to be a constraint on infrastructure development in many Latin American markets,” said Mark Ramsey, Head of Latin America Infrastructure for Macquarie Capital. “Macquarie Development Corporation will work with local developers in the pre-construction phases of development to make viable projects investment-ready for traditional infrastructure investors and funds. MDC represents a significant opportunity to help facilitate economic growth in the region.”
China Communications Construction Company (CCCC) is one of the global fortune 500 companies based in China. CCCC and its subsidiaries are principally engaged in the investment, design and construction of transportation infrastructure, dredging and heavy machinery manufacturing.
CCCC’s operations span a range of infrastructure subsectors, including ports, transport, civil works design and construction, capital and reclamation dredging, container cranes, heavy marine machinery, large steel structure and road machinery manufacturing, international project contracting and import and export trading services.