Chile is pushing its pension and insurance funds even further towards infrastructure. As a result, new domestic managers are appearing and branching out beyond single-asset vehicles to brownfield opportunities, other regions and to Chile’s largest domestic fundraising to date, reports Jonathan Carmody
Chile’s first highway concessions date back as far as 1992. By the year 2000, infrastructure developers there had already invested around USD 3bn in 13 road, bridge and airport concessions.
Not surprisingly, it is a mix of local companies, international developers and international funds who now own much of Chile’s privately funded infrastructure. Until recently, there had been few domestic fund managers involved in the sector.
Over the past three years this has begun to change.