Successful Closing Of Darby’s 3rd Latin American Private Debt Fund, Reaching Hard Cap of US$300 Million
Darby has successfully closed its 3rd Latin American Private Debt Fund. ISP has acted as the exclusive placement agent for Switzerland.
Washington, DC, October 30th, 2018 – Darby Overseas Investments, Ltd. (“Darby”), a private equity arm of Franklin Templeton Investments, announced the final close of its Darby Latin American Private Debt Fund III (“DLAPDF III”), following the fund being oversubscribed, hitting its hard cap of US$300 million. DLAPDF III is a regional Latin American private debt strategy that invests in financially sound middle market companies with proven management and competitive market positions.
DLAPDF III’s investors are comprised of leading institutional investors from Europe, Asia, United States and Latin America, including investors who have committed to the strategy since the first fund in 1999.
The fund’s investment team has extensive experience in Latin American private debt investing, having worked for more than 10 years on the strategy. The fund team operates out of offices in Washington, DC, São Paulo, Brazil and Bogotá, Colombia, creating a strong regional presence and proven deal sourcing networks. The fund team plans to continue its long track record of deploying capital with senior secured debt positions that include an equity kicker upside, resulting in attractive risk-adjusted returns for investors.
The team has begun building the fund’s portfolio, investing in three companies to date: NEOgas, a regional natural gas distribution company with operations in Brazil, Colombia, and Mexico; San Victoriano, an established agricultural company based in Uruguay; and Abengoa Peru, a transmission line and substation operator based in Peru.
Richard “Rick” H. Frank, Jr., Managing Director of DLAPDF III, commented: “We are honored by the strong support from our limited partners who committed to our 3rd Latin American private debt fund. As a pioneer of private debt investing in the region, we continue to see an increasing number of opportunities for long-term credit financing in medium-sized companies in Latin America, which positions us well to successfully deploy our long-standing investing strategy for the benefit of our portfolio companies and our investors.”