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Marc Frishman – Partner (212) 485-8904 [email protected] www.conduitcap.com. LEADERS IN LATIN AMERICAN PRIVATE EQUITY INVESTMENT. Conduit Capital Partners, LLC Previously Scudder Latin American Power Group – has managed the Latin Power Funds for over 15 years

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Marc Frishman – Partner

(212) 485-8904

[email protected]

www.conduitcap.com

leaders in latin american private equity investment
LEADERS IN LATIN AMERICAN PRIVATE EQUITY INVESTMENT
  • Conduit Capital Partners, LLC
    • Previously Scudder Latin American Power Group – has managed the Latin Power Funds for over 15 years
    • Spun off from DB Capital Partners (Deutsche Bank) – 2003
  • Latin Power Funds
    • Fund I – US$ 100 million - 1993
      • 7 projects
      • Net IRR = 11%
      • 2.1 X Capital
    • Fund II – US$ 157 million - 1998
      • 11 projects
      • Net IRR = 18%
      • 2.5 X Capital
    • Fund III – US$ 393 million - 2006
      • 3 investments made to date
      • 1 exit @ 40% IRR
      • 1 pending exit @ 30% IRR
investment strategy
Investment Strategy
  • Private equity investment in the independent electric power and infrastructure sector in Latin America and the Caribbean.
  • Majority ownership and control of the project company.
  • Significant basic infrastructure needs throughout the region and lack of local capital.
  • Infrastructure assets produce current income – success of investment is not contingent on exit.
  • Mitigate currency risk – revenue contracts in US$ or based on prices that are US$ linked.
  • Construction and Operational risk mitigation through project finance structure. Contracts with creditworthy entities.
conduit capital investments
Exited

Mamonal – Cartegena, Colombia 90 MWs

Jamaica Energy Partners – Old Harbor, Jamaica 74 MWs

Aguaytia – Aguaytia, Peru 160 MWs

Termovalle – Cali, Colombia 199 MWs

Mexhidro – Western Mexico 52 MWs

Termocabo – Recife, Brazil 48 MWs

Energia de los Lagos – Osorno, Chile 86 MWs

El Cosa – Puerto Cortez, Honduras 80 MWs

Orzunil – Zunil, Guatemala 24 MWs

Current Holdings

Southern Cone (Edegel) – Lima, Peru 1,000 MWs

Green Energy – Queretaro, Mexico 65 Km nat gas pipeline

SOGAP Cogeneration - Mexico

Conduit Capital Investments
lp ii mexhidro investment portfolio of 3 hydroelectic plants in mexico
LP II - Mexhidro Investment Portfolio of 3 Hydroelectic Plants in Mexico
  • Greenfield Development – Three plants (52 MWs)
  • Sold to Enel (Italy) – December 2007
  • 42% IRR
  • 5x Invested Capital
lp iii green energy libramiento 65 km natural gas pipeline
LP III - Green Energy Libramiento 65 km Natural Gas Pipeline
  • US$ 100 million total project cost
  • 70% long-term project debt financing
  • Turn-key, lump-sum, date-certain EPC
  • Three phase construction
  • Phase II completion November 2006
  • Long term contract in US$ with Pemex
sustainable environmental investing
Sustainable Environmental Investing?
  • Invest vb 1: to commit (money) in order to earn a financial return - Merriam Webster’s Collegiate Dictionary
  • All Conduit projects must comply with World Bank Environmental and Social Guidelines.
  • 40% of portfolio investments have been in renewable assets – Hydro, Geothermal.
  • We will continue to invest in sustainable environmental projects that meet our return criteria.
  • No shortage of global investors for sustainable environmental projects that offer an adequate return.
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