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Tulum Airport: Potential Bidder Raises $1.65 Billion

12 September, 2012

Advent International,a potential bidder for the newTulum airport,announced yesterday that they have raised $1.65 billion to invest in Latin America. Money that could be used in a bid for the airport project.

The global private equity firm -- rumored to be interested in the concession to build and operate the new Riviera Maya terminal -- said they raised the cash through their Latin American Private Equity Fund V.

Advent Managing Partner and Co-Head of Latin America,Juan Carlos Torres,said,"Latin America offers compelling investment opportunities".

The fund will target high-growth sectors in Mexico,Brazil and Argentina in which they have expertise.Advent listed airport services as one of the sectors,leaving the door open to use the money in a bid for Tulum airport.

The first phase of the new Tulum airport is expected to cost $255 million and the Mexican government has said it will launch the bidding process this Thursday.

Mexico's Sub-Secretary for Communication and Transport (SCT),Humberto Treviño Landois,said last month that European consortias are also interested in bidding,including Spanish company, Abertis,and French company, Bouygues Batiment International.

Other bidders are expected to include OMA,operator of northern Mexican airports including Monterrey and Acapulco; OHL,one of Spain's largest construction companies; GAP,operator of Mexican Pacific side airports including Guadalajara; IDEAL,construction company of Carlos Slim,the "richest man in the world"; and Grupo Mexico,a large Mexican industrial group.

Advent International is one of the most experienced and successful private equity investors in Mexico. 

Their investments in the country include Dufry,a global airport retailer; International Meal Company;DolEx Dollar ExpressGayossoHildebrandoInmobiliaria Fumisa and Milano.

They have raised $5.1 billion from international investors since 1996 and have one of Mexico's largest and most experienced private equity teams,working out of long-established offices in Mexico City.

Competition for the bidding process looks set to heat up and the construction of the new airport is expected to have a major effect on local businesses and Tulum real estate.