WAMEX invests in ‘underserved’ Mexican healthcare

Mexico City-based WAMEX Private Equity Management has made an undisclosed investment in Mexican health care management company MediAccess.

“The health care sector in Mexico is underserved and will continue to incorporate modern practices, where MediAccess' unique capabilities can make a difference,” said Klaus Wiegant, founder and chief executive officer of MediAccess, in a statement.

The investment was made from Multinational Industrial Fund I (MIF I), which closed on $66 million in 2003. MediAccess joins other MIF I portfolio companies such as electronics manufacturer EPIQ, metal parts manufacturer VOIT and pumping technology provider Ruhrpupmen. MIF I is now fully invested.

In November WAMEX held a first close on Multinational Industrial Fund II (MIF II) via a $55 million listing on the Mexican Stock Exchange.

MIF II broke ground in enabling Mexico's 18 private pensions – which collectively control about $100 billion in assets – to invest directly in private equity for the first time. Other local fund managers are expected to follow suit with their own similar listed funds in the future, with groups like Macquarie potentially looking to tap Mexico's pensions.

The firm plans to raise a $65 million traditional fund parallel to MIF II to invest alongside the listed entity.