TozziniFreire and FLH advises on Sparta’s Infra Fund follow-on
TozziniFreire advised Sparta, as the asset manager, in the 6th follow-on offering of Sparta Infra CDI Fundo de Investimento Financeiro em Cotas de Fundos Incentivados de Investimento em Infraestrutura Renda Fixa, pursuant to CVM 175 and CVM 160, targeted at retail investors.
The Fund aims investments in securities and assets that have obtained tax incentives, which has been idealized to foster infrastructure development in Brazil.
The follow-on attracted 21,000 new investors in the public offering, and nearly 6,000 quotaholders exercised their preemptive rights. The transaction was coordinated by Itaú, with XP and BTG acting as participants.
With this issuance, Sparta reached a historic milestone: CDII11 is now the largest single-class, actively managed FI Infra listed on B3 by net asset value, at R$2.9 billion.
CDII11 raised R$1.494 billion in this follow-on through the issuance of 14,094,175 quotas.
In addition, the fund now has 70,000 quotaholders, making CDII11 the second-largest in the category by number of investors, behind only JURO11 (also managed by Sparta), which has 100,000. This result is particularly significant given a challenging year for the infrastructure market.
The 6th issuance successfully raised more than 1 billion reais and highlights investor’s confidence in Sparta.
TozziniFreire’s partner Alexei Bonamin (pictured) led the assistance to Sparta, supported by associates Daiane Nunes, Thayane Bordallo, and Pietra Marinelli.
Franco Leutewiles Henriques Advogados (FLH) advised Itaú BBA, XP Investimentos, and BTG Pactual, with partners Gabriel Leutewiler (pictured right) and William Rizzi, alongside associates Paulo Garcia, Giovanna Bicudo, Nicole Addeo, Beatriz Sanceau, Daniel Nogueira, and Lucas Gomes.
