The independent panel of judges chose Lakeshore Partners to win the ESG financial advisory trophy for Latin America based on its involvement in key transactions to have closed in recent times.

Lakeshore Partners was established in 2011 by former investment banking executives and has led numerous Brazilian infrastructure-related transactions over the last 20 years.

As an independent financial and strategic advisory firm focused on the Brazilian renewable energy and infrastructure sectors, its scope ranges from advising companies, infra funds and individuals on transactions across sectors.

However, it does prioritise projects linked to renewable energy sources and environmentally conscious practices – which won it the support of judges on IJGlobal ESG Awards 2024.

Lakeshore singles out 2 standout transactions it acted on from over the course of the judging period that illustrate the firm’s sustainable commitment include:

• acquisition of Ocyan by Lake Capital Investimentos and EIG Partners
• refinance of Porto do Açu Operações

Lake Capital Investimentos (the asset management division of Lakeshore Partners) and EIG Partners on 9 April (2024) concluded the $390 million acquisition of Ocyan Participações, a Brazil-based solutions provider to the offshore O&G industry.

Of that sum, $283 million was for Novonor’s 100% equity interest and the remaining amount for liquidation of its outstanding balance of non-voting securities.

The transaction proceeds related to Novonor’s equity interest were paid to BNDES, per the fiduciary agreement previously executed by the parties, to settle a portion of Novonor’s debt.

This transaction marks the establishment of the asset management division of Lakeshore Partners – Lake Capital Investimentos – and consequently its first capital raise together with EIG Partners. Lakeshore Partners acted as the sole financial adviser to Lake Capital and EIG.

On the Port of Açu deal – that closed on 15 March (2024) – this was for the refinance of its existing debt with Bradesco and Santander, as onlending banks from BNDES, and FI-FGTS through a new debenture issuance.

Port of Açu – controlled by Prumo Logística – is part of the port located in São João da Barra (RJ), in the Açu district. It is the largest privately-owned port industrial complex in Brazil, strategically located near the Campos and Santos Basins.

The total refinance amount was BRL 5.8 billion, in 2 issuances:

• Prumo – BRL 5.1 billion debenture
• PdA – BRL 0.7 billion securitisation instrument