About

Macquarie Infrastructure and Real Assets (MIRA) is a leading global alternative asset manager specialising in infrastructure funds, other real asset funds and customised accounts. The most senior lawyer for MIRA in Mexico is Roman Ajzen, who is the legal director of the two existing funds, Macquarie Mexican Infrastructure Fund (MMIF) and FIBRA Macquarie México. Together with David Handelsmann, general counsel for Latin America (who recently relocated to New York), and corporate and regulatory support lawyer, Monserrat Villegas, the three member team cover all of MIRA’s activities within Latin America, primarily focused on the company’s two core markets of Mexico and Brazil. According to Handelsmann the addition of Villegas has ‘seamlessly allowed us to bring certain work in-house that was historically done by external counsel, such as corporate secretarial work and certain compliance functions’. Ajzen led on key initiatives such as FIBRA Macquarie México’s refinancing of $900m debt in 2016 across five credit facilities and the implementation of its first interest rate swaps. He also supported approximately $100m of M&A activity by MMIF and FIBRA Macquarie México, including FIBRA Macquarie México’s first asset divestments. Other significant work the team has achieved includes MMIF’s acquisition of one of the first greenfield solar photovoltaic projects in Mexico, by utilising an innovative credit support structure. To facilitate these kinds of major dealings the team implemented a comprehensive anti-corruption risk management process for higher-risk transactions. According to Handelsmann, ‘the process is based on international best practices and incorporates multi-disciplinary inputs such as forensic accounting, on-the-ground enhanced due diligence and local and international legal advisors to provide actionable advice on applicable risks. This information is critical to the decision to proceed with a transaction and the types of contractual protections included in the transaction documents and post-closing actions taken to mitigate risk further’. Containing an advanced skillset and enviable experience, the team is perfectly placed to support MIRA’s existing operations and its continued growth in the region.