PANAMA
CITY, Nov. 24, 2023 /PRNewswire/
-- Banco Latinoamericano de Comercio Exterior - Bladex
(NYSE:BLX), TC Latin America Partners (TC Latam) and Toesca Asset
Management (Toesca) announce the launch of Greenbridge
Capital, a regional private lending platform, whose first factoring
vehicle will be funded by Bladex.
The joint venture will begin operations in Chile before the end of 2023 with plans to
expand to other countries in the region such as Colombia, Peru and Mexico. The first vehicle, with a financing
capacity of up to US$200 million,
will focus exclusively on the Chilean factoring market.
"Chile is the first step in a
regional business plan. Our extensive experience in the
factoring market allows us to identify attractive opportunities in
a market that is still very fragmented," said Manuel Ossa, a
partner at Greenbridge Capital.
Greenbridge Capital's strategy seeks to maintain a revolving
portfolio of short-term invoices from high-credit rated companies.
To achieve this, it will leverage the experience of the founding
team, as well as its operational infrastructure and local
presence.
"We are very excited about the business plan and the potential
that the participation of such a relevant regional player as Bladex
in its structuring and financing represents," said Gregorio Schneider, partner at Greenbridge
Capital.
Through this initiative, Bladex will enter into a line of
business that will allow it to continue diversifying its product
portfolio in Latin America.
"Structures of this nature are an essential part of our
strategic plan and allow us to access more attractive yields
without changing our risk profile through arbitrage and
structuring," said Samuel Canineu, Chief Commercial Officer of
Bladex.
Bladex, a multinational bank originally established
by the central banks of Latin-American and Caribbean countries, initiated operations in
1979 to promote foreign trade finance and economic integration in
the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the
United States of America, supporting the regional expansion
and servicing its customer base, which includes financial
institutions and corporations. Bladex is listed on the NYSE in
the United States of America
(NYSE: BLX), since 1992, and its shareholders include: central
banks and state-owned banks and entities representing 23 Latin
American countries; commercial banks and financial institutions;
and institutional and retail investors through its public
listing.
Greenbridge Capital, is a joint venture between
Toesca Asset Management and TC Latin America Partners, focused on
making investments in the private credit sector in Latin America. The factoring platform will be
the second major initiative of this alliance, after having launched
in 2019 a credit platform to finance the construction of
residential real estate projects in Colombia. Additionally, the firm is working on
consolidating vehicles to finance renewable energy infrastructure
projects in the region.
TC Latin America Partners, is an institutional investment
fund manager focused on Latin
America. The firm was founded in 2012, is registered as an
investment advisor with the U.S. Securities and Exchange Commission
(SEC) and has offices in New York,
Bogota, Lima, Mexico
City and Santo Domingo.
Toesca Asset Management, is a fund manager specializing
in alternative investments in the Americas. It was founded in 2016
by a group of independent executives who have worked together for
over 20 years. To date it has raised more than US$ 2 billion for its various asset classes
(infrastructure, real estate, private credit, equities and
farmland).
For further information, please contact:
Bladex:
Samuel Canineu - Chief Commercial Officer
E-mail address: scanineu@bladex.com
Head Office Address: Torre V, Business Park, Ave. La Rotonda,
Urb. Costa del Este,
Panama, Republic of Panama
TC Latin America Partners
Juliana Soto
jsoto@tclatam.com
www.tclatam.com
Toesca Asset Management
Daniel
Moroso
Daniel.moroso@toesca.com
www.toesca.com
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)