Darby Private Equity, the private equity arm of Franklin Templeton Investments, announced in early June that the Brazil Mezzanine Infrastructure Fund (BMIF) has exited its energy infrastructure investment in Bioenergy Geradora de Energia, a private company based in São Paulo, Brazil.
BMIF, a fund advised by Darby, invested in Bioenergy in September 2011.
Eduardo Farhat, Managing Director, Darby Brazil, stated:
We backed an excellent company and take great pride in our partnership with Bioenergy as well as in the role we played in strengthening the company's financial position. We congratulate the management team for their accomplishments and continue to believe they are one of the best renewable energy companies in the country. Moreover, this investment highlights Darby's dedication to Brazil as well as to the energy infrastructure asset class.
Bioenergy is a pioneer in developing and implementing renewable energy projects in the country. Founded in 2002, Bioenergy has structured several renewable energy projects in the northeastern Brazil. Bioenergy sold energy in the regulated market, through long-term power purchase agreements, at auctions held by Brazil's federal agency, ANEEL, and was one of the first to sell wind and solar energy in the open market.
BMIF makes investments in Brazilian infrastructure projects that are either new or expansions of existing, medium-sized infrastructure assets. The Fund's investments include a hydro- and thermal-power plant in northeastern Brazil, the only independent grain terminal port operator in Santos, the largest port in South America, a provider of engineering solutions for the oil & gas and infrastructure sector in Brazil and a supplier of logistic services for offshore platforms and major infrastructure works in Brazil.
Darby Private Equity was founded in 1994 by Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton Investments.