The alliance will be formed by establishing two independent vehicles that will complement each other in the development of the platform:
Actualcorp: Parent company of local real estate companies in Chile, Peru, and Colombia that will operate under the Actual and Acierto brands in the residential and multifamily business segments in their respective markets. Actualcorp will be controlled by Actual and based in Chile with subsidiaries in Peru and Colombia.
AshmoreAVENIDA Development Platform: Investment fund based in Ontario, Canada with an initial capital target of USD 100 million (with USD 100 million in co-investments) and its sole purpose being to invest in Actualcorp’s projects through its local investment vehicles, in conjunction with other partners and investment funds. This fund will be managed by a General Partner controlled by AshmoreAVENIDA, and will also have subsidiaries in Chile, Peru, and Colombia.
Both entities will join previously to the public list of Actualcorp in the Santiago de Chile Stock Exchange