By TC Latin America Partners
June 2013
Terranum Capital (now TC Latin America Partners), the Latin American real estate investment firm with offices in Bogota, Lima and New York, has successfully completed its inaugural fundraising effort, resulting in commitments of US$235 million and making it one of the largest private equity funds of its type.
The Fund has attracted a broad range of investors including pension funds in Peru and Colombia, institutions in the US and Europe, and a select group of Latin American family offices. The Fund executes a unique strategy, investing in the development of low and middle-income housing and retail projects in Peru, Colombia and Mexico. Terranum Capital has been associated with pre-eminent local developers to address the huge housing deficits within these countries. The real estate market in Latin America represents an excellent growth opportunity, with demand for middle and low income housing significantly outstripping supply, and strong government incentives supporting first time home buyers. Terranum Capital’s investment team has held executive positions at leading international investment firms including Och-Ziff Capital and has a strong track record investing in the Latin American region.
Terranum Capital has made strong progress since its inception in 2012, having already invested over US$65 million during the past year in five housing projects in Peru and Colombia, two of the fastest developing economies in Latin America. Several of these investments are already generating returns.
Gregorio Schneider, founder and Chief Investment Officer of Terranum Capital, commented:
“We are delighted to have achieved such a successful fundraising for our first fund. We are particularly pleased with the strong endorsement we have received from the Latin American institutional and private investor community.”
“The real estate sector in Latin America remains significantly underinvested. Terranum Capital has identified an opportunity to provide much needed liquidity to local real estate developers by partnering in the development of residential and retail projects, helping them expand their business. We are ideally positioned to take advantage of this investment opportunity with an on-the-ground presence through our network of regional offices, and a highly experienced team with deep expertise investing in Latin America. We have made rapid progress and have already established ourselves as the partner of choice for leading local developers. We are excited by the growth we can achieve over the coming years.”
