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PUENTE Launched The First Investment Fund In Real Estate Developments Of Paraguay

The first series, of seven million dollars, is destined to build a complex of 162 homes in the town of Luque

Asunción, May 31, 2021.-PUENTE, The leading regional Wealth Management and Capital Market firm, through its fund managment company, PUENTE AFIPSA, has launched the country's first Real Estate Development Investment Fund. It is a Patrimonial Fund, registred with the CNV and traded on the Asunción Stock Exchange.

The Fund's first registered global program is for up to USD 50 million and this Tuesday, May 25, a first series of USD 7 million was successfully issued at BVPASA to finance a 162-apartment high-rise housing complex in the town of Luque, being subscribed by different institutional investors.

The Fund has several residential, commercial and mixed-use projects under study, both in Greater Asunción and in the interior of the country, which will be launched in the coming months and financed by new series of the same global programs.

The real estate market in Paraguay, due to the increase in the supply of mortgage financing, is growing above the average for the region, trying to satisfy a need for middle-class housing in large urban centers. In addition, for local and foreign investors, it is an attractive sector as it offers higher returns than those of the countries in the area.

PUENTE Expands: Opens Offices in the United States

The leading entity in wealth management and capital markets in the Southern Cone settles in Miami to serve clients globally

Buenos Aires, October 4, 2021- PUENTE Holding UK announced the opening of its first office in the United States, in the city of Miami.

"From our beginnings, we have set ourselves the objective of providing an excellent service in wealth management and investment advice to our clients and we have grown steadily in Latin America, until we have become financial references in the Southern Cone", said Federico Tomasevich, president of PUENTE Holding UK.

“Today, through our Group -based in the United Kingdom- we have offices in Buenos Aires, Asunción del Paraguay and Montevideo; and we are very proud to announce the opening of our subsidiary in the United States ”, added the businessman.

Located at 801 Brickell Avenue (Miami), the new office will focus on accompanying clients from all over Latin America in the global management of their wealth and also responding to the concerns of American investors who are attracted by the deep knowledge and operational capacity that we have in the entity owns in these markets.

“We are expanding to continue fulfilling our mission of adding value to our clients. Having our own office in the United States allows those who choose us - individuals, families, companies and institutions - to have the personalized support of experts who understand their needs -both local and global- and access the vision and analysis of our renowned Advisory team ”, concluded Tomasevich.

PUENTE Designates Fernando Recalde As Your New CEO

PUENTE, an asset management and capital market entity -with its headquarters in the United Kingdom and presence in the United States and Latin America- announced that, as of November 1th, Fernando Recalde will be the new CEO of the Group.

To date, Recalde worked as Country Manager for Larraín Vial in Argentina and, during the last 20 years, he held different structuring, trading and distribution roles in New York. In his extensive career, his time as director and president of Merrill Lynch Argentina also stands out.

“I am very excited to join an entity with the recognition and trajectory of PUENTE. The growth project that we are planning for the next five years is very challenging, but we have professionals with the experience, knowledge and commitment necessary to achieve it”, said Fernando Recalde.

Federico Tomasevich, principal accionista, venía desempeñándose hasta ahora como CEO y Presidente del Directorio de Puente Holding UK.

“I am very satisfied with the evolution that Puente had in the last 10 years thanks to the team of leaders and professionals of excellence that we have. To date, we manage more than USD 2,500 million in assets under administration in Property Management, we operate more than USD 15,000 million in Institutional Trading and in the last five years we have structured financing in the Capital Market for more than USD 5,000 million in more than 400 transactions. We have great expansion plans in Latin America and the United States for the next five years. With the appointment of Fernando as CEO of the Group, I am going to dedicate myself - from the Presidency of the Group and together with the rest of the Board - to the strategic direction of PUENTE”, said Tomasevich.

November 1, 2021