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Ainda, Energia & Infraestructura

PRI reporting framework 2020

You are in Organisational Overview » Basic information

Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

Ainda Energía & Infraestructura (Ainda) is the general partner of a private equity fund engaged in the conceptualization, design, implementation and operation of investment opportunities in the Energy and Infrastructure sectors in Mexico. The fund is set as a listed private equity fund (Certificates of Development Capital), a structure established in 2006 by the Mexican regulator to allow pension funds (Afores) and other institutional investors to participate in private equity opportunities.

According to our investment strategy we can invest in the following industries: transport, including toll roads, airports and ports; water, mainly in public concessions and energy, including oil and gas, renewables and conventional power. So far we have invested in a toll road asset. At the present time we are pursuing other deals related to another toll road, a company providing ITS services in the transport sector, a water utility and several renewable and oil and gas projects.

It is important to highlight that Mexican regulation requires private equity funds with money from pension funds, to be listed in the Mexican Stock Exchange, therefore Ainda, as the GP of the listed fund AINDACK18, is subject to governance and transparency regulation at the level of a listed company.

In order to comply with this regulation Ainda has created a robust corporate governance, formed by:

  • A Technical Committee in which investors must discuss and approve any relevant decisions related to the trust, including investments. The Technical Committee includes five experienced independent members proposed by Ainda that have to be approved by investors.
  • An Investment Committee with experienced independent members (mostly others than those involved in the Technical Committee) that prefilter opportunities to the Technical Committee

Besides, the GP received a 22% capital raise from Proeza, an international conglomerate based in Monterrey, who contributes with valuable experience in corporate governance policies and chairs the Audit and Compensation Committees, as well as the Board of Directors. Both Committees include independent advisors as well.

It is also important to highlight that independent board members that participate in the two aforementioned committees of the CKD (Technical and Investments) have very relevant trajectories in the industry, offering highly experienced opinions with a mix of local and international knowledge. We have 8 independent board members:

1. Fernando Gomez Mont:

  • Currently, Partner at Zinser, Esponda y Gómez-Mont
  • Former Minister for the Interior, Government of México
  • President of the Justice Commission, Mexican Federal Congress
  • Federal Congressman
  • Member of the National Executive Board and the Political Commission of Partido Acción Nacional
  • Founding Partner at ADP
  • Bachelor's Degree in Law from Escuela Libre de Derecho

2. Enrique Barón Crespo

  • Currently, President of the International Yehudi Menuhin Foundation and the European Foundation for the Information Society
  • President of the European Parliament
  • Former Minister of Transport, Tourism and Communications of Spain
  • Member of the City Council of Madrid
  • Order of the Aztec Eagle,
  • Ph.D. in Law, Universidad Complutense de Madrid
  • Bachelor's Degree in Business Administration from ICADE and ESSEC

3. Ginger Evans

  • Currently CSO at CAG Holdings, a Carlyle Company
  • CEO at Reach Airports Arlington Virginia
  • Director of Chicago O`Hare airport
  • VP at Parsons Corporation
  • Led design & construction of Denver International Airport
  • Aviation Director at Denver International Airport
  • B.Sc. and M.Sc in Civil Engineering, Colorado State University

4. Louis Ranger

  • Currently Corporate Director at OAG
  • Former Transport, Infrastructure and Communities Vice Minister, Canada
  • Board Member of Canada Mortgage and Housing Corporation
  • Excellence Award for Public Service
  • B.Sc. and M.Sc. in Economics, Ottawa University and Montreal University

5. Raúl Livas

  • Currently Partner at ST Energía
  • Corporate Planning Director at PEMEX
  • Director of Pemex Petroquímica
  • Head of the Energy Policy Unit, SENER
  • General Director at MXV Capital Ventures
  • National Economics Award
  • Ph.D. in Economics from MIT
  • B.Sc. in Economics from ITAM

6. Guillermo Guerrero Villalobos

  • CEO at DIRAC
  • Construction Under Director at Renovación Nacional
  • CEO at CFE and LyFC
  • Director at CONAGUA
  • National Civil Engineering Award
  • Civil Engineer from Instituto Politécnico Nacional, Mexico

7. Louise Goeser

  • Currently, Board Member of Talen Energy Corporation, MSC Industrial Direct Co. and Seguros Monterrey NY Life
  • President and Executive Director at Siemens Mesoamérica
  • Quality Global Vice President at Ford Motor Co.
  • MBA, University of Pittsburgh
  • B.Sc. In Economics, Penn State

8. Luis Robles Miaja

  • Currently, Director Partner at Robles y Zaldívar and Institutional Advisor in Bolsa Mexicana de Valores
  • Chairman of the Board, BBVA Bancomer
  • Executive President of the Mexican Banking Association
  • B.Sc. In Law from Escuela Libre de Derecho

Finally, in order to comply with transparency regulation on CKDs, Ainda has the support of the following third parties:

  • Fiduciary: Manages investor funds (INVEX)
  • Investor Representation: Monitors fiduciary operations (CI Banco)
  • External Auditor: Audits financial statements of the trust (EY)
  • Independent Valuator: Provides a third-party valuation of the assets in the trust (Deloitte)
  • Administrative Services: Backoffice functions (IGNIA)

OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Mexico

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

16 FTE

02.4. Additional information. [Optional]

The regulation of the CKDs (Certificates of Development Capital) limit the fund to focus solely on investment opportunities in Mexico.

 


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]

We are currently invested in a highway in the north of Mexico in which our strategic partner is PINFRA, the most experienced private highway operator in the country.

As part of our commitment to PRI we are working on the implementation of responsible investment practices during the construction and operation of the asset, and this has helped us to properly identify and manage ESG risks.

Some examples of RI actions that are being currently implemented at the project are: (i) GHG (define) measurement, (ii) reforestation, and (iii) rehabilitation of local roads, among other actions that are further addressed below in the document.


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2019

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property 0 0 0 0
Infrastructure >50% 100 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

 The AUM reported consists of the construction, operation and maintenance of the 50 km toll road section between La Gloria and San Fernando of the highway that connects Monterrey with Nuevo Laredo, in northern Mexico, during a concession period of 30 years. The project also includes the improving and maintenance of a federal toll-free road that runs parallel to the toll section.


OO 07. Fixed income AUM breakdown (Not Applicable)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

0 Developed Markets
100 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

The regulation of the CKDs (Certificates of Development Capital) limit the fund to focus solely on investment opportunities in Mexico.

 


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