Lefosse acts on AZ-AXS Energia FIP-IE structuring and offerings

Lefosse advised the investment manager AZ Quest Infra on the structuring and public offering for the distribution of shares of the first and second issuances of the single class of limited liability of AZ-AXS Energia Fundo de Investimento em Participações em Infraestrutura (FIP-IE), which raised BRL850 million in total.

The follow-on public offering, which raised BRL750 million and was conducted by XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários, was finalized in August 5 and reached more than 7,000 qualified investors.

This innovative FIP-IE was structured with different subclasses of shares, combining priorities and returns for different investor profiles. In a scenario of high interest rates and volatility, in which the equity capital market (ECM) remains closed for initial offerings, the FIP-IE worked as a unique solution, with a model that resembles an equity IPO, but carried out through a local investment fund, enabling a robust fundraising aligned with the needs of the sector.

The FIP-IE is managed by AZ Quest Infra, part of the AZ Quest group, a leading Brazilian alternatives investment management company, and was formed with the purpose of making an equity investment in AXS Energia, a Brazilian EPC company focused on energy distributed generation projects.

Lefosse assisted AZ Quest in both the structuring, IPO, and the follow-on offering, relying on partner André Montanholi Mileski (pictured left), and the associates Matheus Maiotto, André Barbin, Bruno Verciani and Mateus Souza.

Stocche Forbes assisted XP Investmentos in the follow-on offering and relied on partners
Marcos Ribeiro (pictured center), Bernardo Kruel (pictured right), associates Victor Vieira, Marcela Manzanares, Laura Freitas.

In-house counsel list
AZ Quest: Tatiana Altemari.
XP: Kristian Orberg.