Carey counsels Patria Investments on infrastructure fund in Chile’s Valparaíso
Carey has advised Patria Investments, through its Patria Infrastructure Fund III, on finalizing the sale of Aguas Pacífico, a desalination plant under construction in Chile’s Valparaíso Region, to a new investment fund managed by Moneda AGF.
The transaction also included the prepayment of prior financing by the selling fund. This deal, closed on February 27, 2025, involved multiple jurisdictions, including Chile, Canada, Cayman Islands, Uruguay, and Spain.
The transaction reflects Patria’s strategic approach to infrastructure investment in Latin America, showcasing its ability to develop and de-risk high-quality assets while attracting global investors.
Additionally, the deal highlights the lifecycle management of Fund III as it transitions assets to Fund V and other contributors.
Carey acted as counsel to Patria Fund III with a team comprising partners Felipe Moro (pictured left), Cristián Eyzaguirre (pictured center), and Manuel José Garcés (pictured right), alongside associates Daniela Pfeffer, Constanza Rivera, José Ignacio Burchardt, José Pedro Fuentealba, Felipe Reyes, and José Pablo Sáez.
Proskauer Rose provided additional counsel to Patria Fund III through partner Daniel I. Ganitsky.
Cuatrecasas represented Patria Fund V with partner Michel Dibán leading the counsel. Claro & Cía. served as counsel to Lumina Capital with partner José Luis Ambrosy. Baraona Marshall & Cía. advised TMF with partner Rodolfo Vega Pizarro and associates Clara de la Cruz and Andrés Baraona Silva contributing to the legal team.
In-house counsel for the transaction included Larissa Sabino from Patria Investments, serving as legal, compliance, and regulatory director, and Matías Gruzmacher from Moneda Asset Management.
