Prudential Capital Group has opened an office in Mexico City to underpin its investment strategy in Latin America, including in power and energy infrastructure project finance.
The Mexico-based team will initially have a headcount of five, led by Jason Boe, senior vice president, with potential to grow.
“Adding a local presence in Mexico is consistent with our strategy of developing closer relationships and allows us to best address the financing needs of existing and prospective clients," said Marie Fioramonti, managing director and head of Prudential Capital's cross-border originations, in a statement.
In 2016, the private debt investor provided a $50 million 25-year fixed-rate tranche as part of the $823 million debt financing of Engie and Red Eléctrica de España's Transmisora Eléctrica del Norte transmission line in Chile, which was described as a "landmark" project for the country (PFR, 12/7/16).
Prudential's Dallas-based energy finance group, which includes a unit focused on power, will "lever the local presence of the Mexico City team to identify new opportunities, assist in diligence and portfolio management," says a spokesperson for the firm in New York. "PCG sees numerous attractive investment opportunities in project financings for power and energy infrastructure."