Kandeo Private Equity has raised $250 million for its second fund, according to SEC filings.
The fund has a $350 million target, and has been in the market since May of last year.
Kandeo declined to comment on fundraising.
The firm is based in Mexico City, and closed its first fund on $126 million in 2011. That fund is the second largest non-infrastructure fund in Colombia, and has commitments from various Colombian pensions and institutions, according to Private Equity International’s research and analytics division.
The second fund will also be based in Colombia, but the firm will expand its investment universe regionally, and is also targeting a global investor base.
Mercury Capital Advisors is acting as a placement agent for the fund.