Darby Private Equity is the process of completing fundraising for an investment fund that will focus on infrastructure projects in Brazil, according to the Wall Street Journal, which cited a source close to the matter.
Darby aimed to raise R$500 million (US$225 million) for the fund when it launched fundraising 15 months ago. The private equity arm of Franklin Templeton Investments expects to end the process before the World Cup, which begins on June 12.
The fund will focus among others on energy, logistics, transportation and other infrastructure projects in Brazil.
According to the source, Darby has already generated and invested about R$2 billion (US$900 million) in infrastructure projects in Brazil during last years. Darby manages the Brazil Mezzanine Infrastructure Fund, which was launched in 2007. The fund is currently in full divestment mode.
Darby has been involved in the field of emerging markets infrastructure with strong commitment. Darby targets investments in sectors such as transportation, energy, telecommunications, waste management and water treatment.
Darby also manages the Colombia Transportation Infrastructure Fund. The fund was launched in 2010 as Darby's first fund solely dedicated to infrastructure projects in Colombia. It is currently in investment mode and it has made two investments: in a company that operates vessels and in Oleoducto Central S.A. (OCENSA), the largest oil pipeline in Colombia.