Fideicomiso Irrevocable F2061 FHipo (IFC-39740)

  • Mexico
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Fideicomiso Irrevocable F2061 FHipo
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 113.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 3, 2018

Disclosed by Bank Jul 28, 2017

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Project Description

From the IFC:

The proposed project consists of credit facility through a financing structure with Fideicomiso Hipotecario. With this financing, FHipo will continue to provide liquidity to mortgage loan originators in Mexico, allowing them to expand the amount of mortgages granted and thus benefiting a greater number of Mexican families.

FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V.

IFC's support will enable FHipo to expand the scale of its investments, by increasing the amount of residential mortgage portfolios acquired by them. This in turn is expected to have a twofold impact:
i) Residential mortgages originators will be benefited by obtaining access to liquidity and funding diversification to increase their operations, and, consequently, increasing the number of families being able to get mortgage financing; and ii) Institutional investors will also benefit from the proposed Project, since it will contribute to a wider availability of impact investment opportunities in form of RMBS in the capital markets.

Investment Description

The proposed total IFC investment consists of an A Loan of up to MXN2,000 million (US$113 million), on IFC's own account.

Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

FHipo, a publicly entity traded in the Mexican stock exchange, is the first real estate investment trust established to acquire, originate, co-participate, and manage mainly mortgage portfolios in Mexico.  Currently, it is the only investment vehicle that provides investors with exposure solely to the Mexican mortgage market and rewards them through a combination of dividend payments and capital gains.  FHipo is managed by Concentradora Hipotecaria S.A.P.I. de C.V., which has a management team that overall accounts with more than 50 years of experience in the finance and mortgage sector.

Contact Information

Concentradora Hipotecaria, as Advisor and Manager of Fideicomiso Irrevocable F/2061 FHipo
Daniel Braatz
+52 55 4744 1100
Juan Salvador Agraz 65 9th Floor, Lomas de Santa Fe, Mexico City, 05300


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