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Washington, DC, October 30th, 2018 - Darby Overseas Investments, Ltd. (“Darby”), a private equity arm of Franklin Templeton Investments, announced the final close of its Darby Latin American Private Debt Fund III (“DLAPDF III”), following the fund being oversubscribed, hitting its hard cap of US$300 million. DLAPDF III is a regional Latin American private debt strategy that invests in financially sound middle market companies with proven management and competitive market positions.
DLAPDF III’s investors are comprised of leading institutional investors from Europe, Asia, United States and Latin America, including investors who have committed to the strategy since the first fund in 1999.
The fund’s investment team has extensive experience in Latin American private debt investing, having worked for over 10 years on the strategy. The fund team operates out of offices in Washington, DC, São Paulo, Brazil, and Bogotá, Colombia, creating a strong regional presence and proven deal sourcing networks. The fund team plans to continue its long track record of deploying capital with senior secured debt positions that include an equity kicker upside, resulting in attractive risk-adjusted returns for investors.
The team has begun building the fund’s portfolio, investing in three companies to date: NEOgas, a regional natural gas distribution company with operations in Brazil, Colombia, and Mexico; San Victoriano, an established agricultural company based in Uruguay; and Abengoa Peru, a transmission line and substation operator based in Peru.
Richard “Rick” H. Frank, Jr., Managing Director of DLAPDF III, commented: “We are honored by the strong support from our limited partners who committed to our 3rd Latin American private debt fund. As a pioneer of private debt investing in the region, we continue to see an increasing number of opportunities for long-term credit financing in medium-sized companies in Latin America, which positions us well to successfully deploy our long-standing investing strategy for the benefit of our portfolio companies and our investors.”
About Darby Overseas Investments, Ltd.
Darby Overseas Investments was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003 Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. Darby has business lines in private equity, private debt and infrastructure fund management in Latin America, Asia, and Central and Eastern Europe; a total of 42 funds raised in 23 years. For more information, please visit darbyoverseas.com.
Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes – including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in over 30 countries, the California-based company has 70 years of investment experience and over $717 billion in assets under management as of September 30, 2018. For more information, please visit franklinresources.com
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