Mexican private equity fund Nexxus Capital is reportedly nearing a first close on its $500m-targeting sixth fund.
The firm plans to have gathered $300m for the first close according to Dow Jones, which cited people with knowledge of the fundraise.
A close of that magnitude will see the fund equal the total raised between Nexxus’ $300m fifth and fourth funds, which invest jointly but were raised separately to comply with Mexican law.
Nexus Capital IV gathered about $210m through CDKs, which allow pension funds to invest in the vehicle through publically-traded shares on the Mexican stock exchange.
Nexxus Capital V is an Ontario-based vehicle mainly focused on foreign institutional investors. The two vehicles were 75 per cent committed as at the end of September last year.
The firm currently has assets under management of $660m and investments in 18 portfolio companies.
Last week Carlyle Mexico spinout EMX Capital boosted its assets under management to almost $200m after raising its second fund.
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