TC closes second Latin America-focused RE pool at $268m

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Real estate fund manager TC Latin America Partners has held a $268m final closing for its second investment fund focused on Peru, Colombia and Mexico.

Terranum Capital Latin America Real Estate Fund II (TCLAREF II) will look for opportunistic investments across the three countries, providing RE projects and developers in need of capital with both debt and equity.

TCLAREF II consider opportunities in all, the residential, commercial and industrial real estate segments.

A few institutional investors have backed the new pool, among which pension funds and insurance companies in Colombia, Peru, the US, the Middle East and Europe.

The second fund has deployed around $60m across six investments to date.

Including the latest pool, TC Latin America Partners now manages assets of more than $500m. With offices in Bogota, Lima, Mexico City, and New York, the firm is one of the few institutional RE fund managers dedicated to Latin America.

Gregorio Schneider, Managing Partner and Chief Investment Officer at TC, said, “We are uniquely positioned to take advantage of the current real estate investment opportunity in the region and believe that this is an ideal time to build a portfolio at valuations that we have not seen in a long time.

“Compared to other emerging market countries, we believe that Peru, Colombia and Mexico are better positioned to withstand potential headwinds.

“The market fundamentals in these countries are sound and the real estate sector will continue to be very dynamic.”

Daniel Grunberg, managing partner at TC, added, “With the increased volatility in the market and lack of liquidity, we continue to see the opportunity to structure investments higher in the capital structure and in some cases in US dollars.”

Founded in 2012, TC raised $235m for its first real estate vehicle in June 2013.

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