IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, and NH Investment & Securities, signed a Memorandum of Cooperation (MOC) to establish a co-financing fund for the private sector in Latin America and the Caribbean for up to $300 million. The agreement was signed in Korea, on November 5th, by Gema Sacristán, IDB Invest chief investment officer, and Young-chae Jeong, NH Investment & Securities chief executive officer.
Through the fund, both institutions seek to enhance collaboration in exploring co-financing opportunities while reinforcing its investment capacities toward Latin America and the Caribbean. This initiative allows the possibility of sharing information about investment banking that could facilitate Korean companies entering the Latin America and the Caribbean market.
The $300 million-sized fund will be established by NH-Amundi Asset Management Co., Ltd, the fund manager. NH Investment & Securities will mobilize Korean institutional investors to invest in co-financing opportunities in areas such as infrastructure and energy, among others, to be identified by IDB Invest in the Latin American and Caribbean region.
“IDB Invest is pleased to enter into this MOC with NH, and this represents an important gateway to access Korean institutional investors,” stated Ms. Sacristán. This is in line with our strong mandate to mobilize additional funding in support of development of Latin America and the Caribbean.”
“This MOC with IDB Invest will be the cornerstone for NH to contribute to the Sustainable Development Goals through private investment into the Latin America and the Caribbean region,” remarked Mr. Jeong. “Moreover, I have high hopes that this cooperation with an eminent MDB such as IDB Invest will allow NH to grow to a global investment bank.”
About IDB Invest
IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of $11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.
About NH Investment & Securities
NH Investment & Securities Co., Ltd. is a financial investment company based in the Republic of Korea that provides comprehensive financial products and services including investment banking, advisory, and portfolio management to domestic and international customers. As of the end of 2017, NH Investment held total assets of $38.8 billion and shareholder’s equity of $4.3 billion.