Lakeshore Partners was awarded Financial Adviser of the Year in Latin America, with judges impressed by its track record and simply saying they are clearly a leader in LatAm advisory.

Lakeshore is an independent firm, with no formal links with financial institutions, established by former investment banking executives with deep knowledge of renewables, energy, logistics, oil & gas, water & sewage and PPP sectors. The adviser has lead on the most striking and innovative infrastructure deals in Brazil.

One judge said: “Lakeshore has an impressive track record with complex situations”

While another member of the judging panel said: “The award is based on the breadth and depth of Lakeshore’s activities in Brazil – demonstrated through the snapshot provided in the 3 case studies presented that are diverse across size of transaction, sector, financial structuring, client, industry.”

The financial advised worked on a number of deals that also received IJInvestor Awards this year.

In April (2024), Lake Capital Investimentos, the asset management division of Lakeshore Partners, and EIG Partners concluded the acquisition of Ocyan, a Brazilian-based solutions provider to the offshore oil and gas industry, for a total amount of $390 million.

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.

Lakeshore Partners acted as the sole financial adviser to Lake Capital and EIG.

The adviser was also mandated by Prumo on the Porto do Açu Operações refinancing.

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 refinancing – which closed on 15 March (2024) – amounted to BRL 5.8 billion ($999m) in 2 issuances: 

• Prumo – BRL 5.1 billion debenture 

• PdA – BRL 0.7 billion securitisation instrument 

Lakeshore was also acted as financial adviser to HRZ Transmissão e Participações, a holding company controlling three transmission line concessions in Brazil, in connection with its refinancing.

HRZ concluded its 3rd debenture issuance, totaling BRL 375 million, with maturity in December 2035 (a 12-year debt) and a real coupon equivalent to IPCA (local inflation index) + 7.90%, 239 bps above the reference Brazilian Treasuries at the time of the issuance.