BlackRock creates US$280mn fund to invest in Colombian infra

US asset management firm BlackRock has announced the creation of a US$280mn infrastructure debt fund that will be focused on highways and other infrastructure projects in Colombia.

The fund will make investments in public-private partnerships (PPP), which could include highway projects and other types of infrastructure, an unnamed source was reported as saying by local daily Portafolio.

"We think that Colombia represents an important investment opportunity that is evolving rapidly for investors that are seeking high quality infrastructure assets," the global director of BlackRock Infrastructure Debt, Erik Savi, said in a company statement cited by the daily.

This infrastructure debt fund is BlackRock's first infrastructure investment vehicle in Colombia. It will be led by Luis Carlos Núñez, head of the company's infrastructure debt business in the country.

BlackRock now considers infrastructure investment in Latin America on behalf of local and international clients to be a strategic priority for the firm, according to Reuters.

BlackRock has rapidly increased the size of its infrastructure debt business, filling a gap left by banks that pulled out after the financial crisis.