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Alsis Mexico Housing Fund, LP
United States of America
Last updated 13 May 2020, by Impactyield.
Fund geography
Emerging countries (256) / Latin America and the Caribbean (38) / Central America (15) / Mexico (9)
Alsis Funds seeks to raise an additional $50 million in LP Interests for its real estate investment strategy. Main objective to invest primarily in real estate affordable housing development projects in Latin America, partnering with selected group of national, regional, and local developers. An additional $50 million of preferred financing has been secured with the Overseas Private Investment Corporation (“OPIC”), expected at an all-in cost of 5% annually.
Fund status
Fund style
Financial description
To invest primarily in affordable housing development projects in Mexico and other countries of Latin America, partnering with selected group of national, regional, and local developers. The fund invests via mezzanine debt or quasi-equity structures. Alsis Funds investment strategy follows a 4-tiered selection process, focused on operating performance, market drivers and portfolio management. The fund objective is to provide attractive risk-adjusted returns through the investment in asset-backed structured transactions in Mexico. The firm seeks equity-like returns with a fixed income risk profile.
Alsis Funds seeks to raise an additional $50 million in LP Interests for its real estate investment strategy. An additional $50 million of preferred financing has been secured with the Overseas Private Investment Corporation (“OPIC”), expected at an all-in cost of 5% annually. Target LP return: 25% annual IRR, net of fees, expenses, and carry.
12 years
of track record
2012
the year funded
100,000,000 USD
AUM
Interested in this fund?
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Asset manager
Key performance indicators
Fund overview
Asset manager: Alsis Funds
Product track record: Fund has 12 years of track record
Target IRR: 25%
Committed Capital: 0 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - no committed capital
Style/Stage: Development, Mezzanine Finance
Inception year: 2012
Vintage year: n.a.
Target region: Central America, Emerging countries, Latin America and the Caribbean, Mexico
Target close date: 01/12/2012
Product term: 8 years + 2x 1 year extensions
Assets under management: 100,000,000 USD (US Dollar)
Investment size: Min: 2,000,000; Max: 20,000,000; Avg: 5,000,000
Co-investment policy: Only with LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 0
Fund investments to date exited or repaid: 0
Management fee: 2%
Carried interest: 20%
Hurdle rate: 8%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Development Finance Institution (DFI), Family Office, Pension Funds, Other Institutional Investors
Contact
E-mail: info@alsisfunds.com
Website: http://www.alsisfunds.com
Phone number: +1 (305) 507-8984
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David Sanchez-Tembleque
Managing Partner
Xavier Gonzalez-Sanfeliu
Managing Partner
Impact Performance
n.a.
Impact thesis
Low income housing investments create social and environmental benefits while generating attractive returns for the investors. The target beneficiaries are low income individuals (socioeconomic brackets: C, D+, D and E) with monthly salaries in the range of MX$ 6,780 – 20,800 (approximately US$ 513 – 1,575) located in urban and rural areas. Average low income home price of MX$ 366,067 (approximately US$ 27,732).
Loan proceeds are used to build over 12,000 homes which would be inhabited by 42,500 individuals. Over 61,000 direct and indirect jobs are expected to be generated.
Low income housing units financed have a value of approximately MX$ 4.5 billion (approximately US$ 343 million).
Impact Management
n.a.