For Latin American Capital, sugar is not something to avoid, it is a way of life. The boutique investment bank has supervised a program for sugar inventory financing in Mexico for the last few years and its officers have long-established relationships with commodities. Recently, talk has cropped up in Mexico and Argentina that the specialized shop is designing asset-backed transactions for domestic institutional investors, with structures that would resemble the deals that are now sold directly to the government in the former country (see ASR 3/3, p.22).
ASR recently caught up with Latin American Capital's head of risk management, Henry T. Berry, to discuss the ins and outs of the business. Berry cut his sweet tooth twenty years ago at law firm Barret Smith Shapiro Simon & Armstrong and was subsequently involved in commodities at Merrill Lynch and Prudential Securities. In a Q&A, he spoke about the architecture of securitizing sugar inventory in Mexico and on the other Latin American markets with prospects.