IG4 Capital, through IG4 Private Equity Fund II and managed accounts, acquired a 33.87% stake in Aenza, a Peru-based infrastructure platform, for USD58m. IG4 Capital, now the company’s largest shareholder, will also deploy an additional USD22m to invest in convertible debentures alongside a syndicate of creditors to secure working capital to Aenza in the short term.
(Press Release) Santiago, August 10th, 2021 – IG4 Capital (www.IG4capital.com) announced that on Thursday, August 5th, 2021, its tender offer for 107,198,601 common shares (representing a 12.29% stake) of Aenza S.A.A.
(“Aenza”), formerly known as Graña y Montero S.A.A, one of the largest infrastructure platforms in Peru,
had expired and IG4 Capital has acquired the 107,198,601 shares as per the tender offer’s minimum price
of 1.88 soles per share (approximately USD 0.45 per share).
In addition to this, IG4 acquired a 12.84% stake (or 111,945,909 shares) from members of the founding
family and former executives of Aenza and had 76,159,422 shares (representing an 8.73% stake in Aenza)
transferred to a trust controlled by IG4 Capital under authorization from the Peruvian authorities and
regulators. As a result of these transactions, IG4 now controls 295,303,932 shares of Aenza, or 33.87% of
the company’s total capital, making IG4 the company’s largest shareholder and with relevant influence to
guide Aenza’s turnaround and growth strategy.
The equity disbursement on behalf of IG4 Capital in the transaction totals approximately USD 58 million
from IG4 Private Equity Fund II and managed accounts. IG4 Capital also is deploying an additional USD 22
million to invest in convertible debentures alongside a syndicate of creditors to secure working capital to
Aenza in the short term.
IG4 Capital is a specialist alternative investment manager focused on generating superior performance
with purpose through value creation, ESG integration and sustainable capitalism in Latin America. By
integrating ESG into its core investment and engagement processes of turning around companies under
special situations, IG4 generates long-term financial returns with impactful environmental, social and
governance benefits. IG4 currently has 28 investment professionals across five offices (São Paulo,
Santiago, Lima, London, and Madrid) and currently manages approximately US$1.1 billion across two
funds (IG4 Private Equity Funds I & II).
IG4 Capital currently controls Iguá Saneamento S.A. (“Iguá”), the third largest private water and sewage
operator in Brazil, and one of the most successful financial and operating turnaround stories in Latin
America. IG4 also controls Opy Health, a hospital infrastructure and logistics platform in the Brazilian
healthcare market, as well as CLI (Corredor Logístico Integrado), one of the operators of one of the largest
grains terminals in Brazil (TEGRAM).
Aenza is one of the largest infrastructure platforms in Peru, with permanent operations in Peru, Chile and
Colombia. The company is active in the engineering & construction, infrastructure and utilities
concessions, oil & gas exploration, production and processing, and real estate segments. The company
has 88 years of experience operating in 13 countries across Latin America and it currently has over 14
Aenza’s infrastructure arm controls Line 1 of the Lima Metro, 3 toll road concessions spanning 1,011
kilometers, fuel storage terminals, and a water treatment operation that has 2.6 million beneficiaries.
Aenza is listed on the Lima Stock Exchange and has American Depositary Receipts (ADRs) listed on the
New York Stock Exchange.