Eyeing a plethora of construction opportunities in Latin America, particularly in Brazil, a Chinese construction giant and an Australian investment veteran have officially teamed up with a Brazilian bank. Macquarie Capital, the corporate advisory, principal investing and capital markets arm of Macquarie Group, announced on Nov. 4 an agreement to form Macquarie Development Corp. with China Communication Construction Co. (CCCC) and Banco Modal.
The new corporation will make equity investments in preconstruction infrastructure development projects in Latin America. In a press release, Mark Ramsey, head of Latin America infrastructure for Macquarie Capital, stated, "A shortage of development capital continues to be a constraint on infrastructure development in many Latin American markets. Macquarie ... will work with local developers in the preconstruction phases of development to make viable projects investment-ready for traditional infrastructure investors and funds."