February 2019 | Interview: Hernando Forero | Partner, Grupo Pegasus
SAHIC e-News Latin America - February 2019
Partner, Grupo Pegasus
1- What is Pegasus and what is the focus of the company?
Pegasus is a Private Equity firm based in Argentina and Colombia with a focus on Real Estate and Private Equity.
2- Apart from Colombia and Argentina, in which other Latin American countries are you present and with which operations?
Although Pegasus only has offices in Colombia and Argentina, its portfolio companies are present in many other countries such as Uruguay (Viajero Hostels and Freddo), Brazil (Freddo), Chile (Freddo), Mexico (Marketec), Panama (Maketec) and the United States (Freddo).
3- What are the expansion plans?
As a private equity fund manager, Pegasus is constantly looking for expansion opportunities both through its portfolio companies and through investments in new sectors. For example, we are actively looking at the renewable energy and telecommunications sectors.
4- How is the portfolio distributed? What is the role of investment in the tourism sector within Pegasus?
The majority of Pegasus' investments are in the real estate or commercial sector. Within the real estate sector, we want to make a growing commitment to the tourism sector and this is reflected in our recent investment in Viajero Hostels.
5- Which are the most outstanding real estate and hotel projects in which the company is participating and in what way?
In the real estate sector we have several commercial investments both in Colombia and Argentina. Moreover, in Colombia we are developing a housing platform for older adults. Finally, we are making several real estate investments in cities such as Bogota, Medellin and Buenos Aires through our chain of hostels (Viajero Hostels).
6-What factors do you evaluate when investing in a hotel project?
From a strategic point of view, we focus on making the investment compatible with our strategy and, in particular, with the strategy of our chain of hostels. From the financial point of view, we concentrate on the adequacy of the IRR and the MOIC taking into account the cost of our capital and the type of risk of the project.
7-Which markets are the most favorable for investment today?
We definitely like Colombia, but we believe that in Argentina there can be attractive opportunities as long as the macro situation stabilizes. Other markets we are looking at in the hotel industry are Peru, Ecuador, Panama and Mexico.
8- How do foreign capitals see Latin America?
While interest in the region continues, we have seen that the political and economic volatility in Latin America has driven away foreign capital.
9- You have participated in the last edition of SAHIC South America. In your opinion, how does this type of conference contribute to the hotel industry?
It helps to build valuable professional connections and is also an excellent forum for exchanging ideas and updating on the latest trends.
10- Which social network do you use most often and why?
11 - When you travel for pleasure, where do you choose to stay: in a hotel or in an Airbnb?
Mr Forero joined Pegasus in 2014 as Director of its Colombian office. In 2016 he became Partner at the firm At Pegasus, Hernando has overseen the underwriting and investment execution of Colvalor, a joint venture between Ospinas, Blackstone and Pegasus, created to develop a 56,000 sqm shopping center in Barranquilla.
Additionally, Mr. Forero led Pegasus’ investment in Caluce, a Colombian Senior Housing company and El Viajero, a Latam focused Hostels operator. Before joining Pegasus, Hernando worked in London in the Real Estate Investment Banking team of Credit Suisse for over 5 years. At Credit Suisse, Mr. Forero advised corporate clients in both EMEA and Latin America on several Real Estate related Equity Capital Markets, Debt Capital Markets and M&A transactions.
In 2009, Hernando received an MBA from Columbia Business School where he pursued a concentration in Real Estate and Finance. Hernando also received a B.A. from Boston University where he graduated Magna Cum Laude.
To contact Hernando Forero:
To learn more about Grupo Pegasus, visit: grupo-pegasus.com