Rebaza, Alcázar & De Las Casas advised HMC Asset Management S.A. SAFI in the FORMATION of two private credit investment funds, named “Fondo HMC Crédito Perú III (USD), FI” and “Fondo HMC Crédito Perú III (PEN), FI”.
The combined target capital of the "Fondo HMC Crédito Perú III (USD), FI" and the “Fondo HMC Crédito Perú III (PEN), FI” is USD 150 million.
From a legal perspective, the transaction involved the advice on the design and formation of the funds, and on the drafting of the prospectus, with main focus on the investment regulations of institutional investors.
Accordingly, the advice was particularly intensive, as it involved constant coordination to address HMC's regulatory inquiries, as well as multiple rounds of review to adjust the participation regulations to the sophisticated requirements of potential investors.
Both funds were registered before the Public Registry of the Stock Market (Registro Público del Mercado de Valores) of the Peruvian Superintendence of Securities Market (Superintendencia de Mercado de Valores), as they were funds to be placed through a public offering, under the simplified regime, aimed exclusively at institutional investors (particularly pension funds and insurance companies), for which reason the operation had a significant regulatory component.
Likewise, from a debt financing market perspective through debt instrument issuances, this transaction has an important impact since both funds are focused on financing Peruvian companies through the acquisition of debt instruments.
HMC SAFI was authorized by the Peruvian Superintendence of Securities Market (Superintendencia de Mercado de Valores) on September 19, 2019, and since then it has been consolidating its presence in the Peruvian securities market as a debt investment fund manager.
HMC SAFI is part of HMC Capital, a global alternative investments firm with more than 16 years of experience operating in Brazil, Chile, Colombia, Mexico, United States of America, United Kingdom, and Peru.