|By PR Newswire||
|August 4, 2014 10:07 AM EDT||
WASHINGTON, Aug. 4, 2014 /PRNewswire/ -- ACON Investments, L.L.C. and its affiliates ("ACON" or the "Firm") are pleased to announce the final closing of their most recent Latin America middle market private equity fund, ACON Latin America Opportunities Fund IV, L.P. ("ALAOF IV" or the "Fund"). The Fund has total commitments of US$515 million and is the Firm's fourth consecutive investment program dedicated to Latin America. In May 2014, the Firm also closed on the issuance of MX$2 billion (approximately US$150 million) of Mexican publicly traded trust certificates, specifically Certificados de Capital de Desarrollo or Capital Development Certificates (also known as the "CKD"). The Fund, together with the CKD and co-investment appetite from many of ACON's limited partners, represents well over $600 million of potential capital for pan-regional mid-market private equity investments.
ALAOF IV was oversubscribed, with global investor interest from Europe, North America, Asia and Latin America. Commitments to ALAOF IV included substantial re-commitments from existing ACON investors as well as several new limited partner relationships. The Fund's investors include sovereign wealth and pension funds, insurance companies, development banks and family offices. ALAOF IV is a pan-regional fund with a mandate to invest primarily in private or thinly traded public companies. With a robust pipeline of new opportunities, the Fund's flexible investment objective allows it to invest throughout Latin America, acquire both controlling and minority equity interests and to invest in securities throughout the capital structure. The Fund continues ACON's long and successful Latin American investment style including 30 investments in companies located in nine countries in Latin America.
The investors in the CKD include several Mexican private pension funds. Under the Mexican regulatory regime, the pension funds are currently limited to making investments only in Mexico. A portion of the CKD is invested in the Fund. The CKD is managed by ACON's affiliate in Mexico.
With the closing of ALAOF IV and the CKD, ACON has raised more than $3.5 billion of capital commitments since inception. "We are extremely appreciative of our returning limited partners for their strong support of ALAOF IV and look forward to building similarly long-standing relationships with our new investors," said Ken Brotman, a Founding and Managing Partner of ACON. "We believe the current environment in Latin America provides a highly attractive opportunity to generate favorable returns. Furthermore, we believe our team's long track record and expertise in these markets uniquely positions us to capitalize on this opportunity."
ACON's placement agent for ALAOF IV was Stanwich Advisors, LLC. Hogan Lovells US, LLP served as ACON's primary fund counsel with McCarthy Tetrault LLP joining to advise on Ontario law matters.
About ACON Investments
ACON Investments, L.L.C. is a Washington, DC-based international private equity investment firm that manages private equity funds and special purpose partnerships that make investments in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $3.5 billion of capital. ACON has professionals in Washington, DC, Los Angeles, Mexico City, Sao Paulo, Rio de Janeiro and Bogota. The Fund represents ACON's fourth pool of capital for Latin America. In the United States, affiliates of ACON are currently investing out of its third institutional capital pool. For more information, visit www.aconinvestments.com.
Director of Investor Relations
ACON Investments, L.L.C.
Tel: + (202) 454-1100
SOURCE ACON Investments, L.L.C.
Jul. 29, 2015 02:30 PM EDT
Jul. 29, 2015 02:30 PM EDT Reads: 283
Jul. 29, 2015 02:17 PM EDT
Jul. 29, 2015 02:00 PM EDT Reads: 1,163
Jul. 29, 2015 02:00 PM EDT Reads: 331
Jul. 29, 2015 01:45 PM EDT Reads: 417
Jul. 29, 2015 01:00 PM EDT Reads: 1,054
Jul. 29, 2015 01:00 PM EDT Reads: 1,944
Jul. 29, 2015 12:00 PM EDT Reads: 326
Jul. 29, 2015 11:00 AM EDT Reads: 355
Jul. 29, 2015 11:00 AM EDT Reads: 257
"ProfitBricks was founded in 2010 and we are the painless cloud - and we are also the Infrastructure as a Service 2.0 company," noted Achim Weiss, Chief Executive Officer and Co-Founder of ProfitBricks, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 29, 2015 10:15 AM EDT Reads: 1,104
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Jul. 29, 2015 09:00 AM EDT
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Jul. 29, 2015 07:30 AM EDT Reads: 274
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...
Jul. 29, 2015 07:00 AM EDT Reads: 178