1. Marc Frishman – Partner
(212)

2. LEADERS IN LATIN AMERICAN PRIVATE EQUITY INVESTMENT
Conduit Capital Partners, LLC
Previously Scudder Latin American Power Group – has managed the Latin Power Funds for over 15 years
Spun off from DB Capital Partners (Deutsche Bank) – 2003
Latin Power Funds
Fund I – US$ 100 million
7 projects
Net IRR = 11%
2.1 X Capital
Fund II – US$ 157 million
11 projects
Net IRR = 18%
2.5 X Capital
Fund III – US$ 393 million
3 investments made to date
1 40% IRR
1 pending 30% IRR

3. Investment Strategy
Private equity investment in the independent electric power and infrastructure sector in Latin America and the Caribbean.
Majority ownership and control of the project company.
Significant basic infrastructure needs throughout the region and lack of local capital.
Infrastructure assets produce current income – success of investment is not contingent on exit.
Mitigate currency risk – revenue contracts in US$ or based on prices that are US$ linked.
Construction and Operational risk mitigation through project finance structure. Contracts with creditworthy entities.

4. Conduit Capital Investments
Exited
Mamonal – Cartegena, Colombia 90 MWs
Jamaica Energy Partners – Old Harbor, Jamaica 74 MWs
Aguaytia – Aguaytia, Peru 160 MWs
Termovalle – Cali, Colombia 199 MWs
Mexhidro – Western Mexico 52 MWs
Termocabo – Recife, Brazil 48 MWs
Energia de los Lagos – Osorno, Chile 86 MWs
El Cosa – Puerto Cortez, Honduras 80 MWs
Orzunil – Zunil, Guatemala 24 MWs
Current Holdings
Southern Cone (Edegel) – Lima, Peru 1,000 MWs
Green Energy – Queretaro, Mexico 65 Km nat gas pipeline
SOGAP Cogeneration - Mexico

5. LP II - Mexhidro Investment Portfolio of 3 Hydroelectic Plants in Mexico
Greenfield Development – Three plants (52 MWs)
Sold to Enel (Italy) – December 2007
42% IRR
5x Invested Capital

6. LP III - Green Energy Libramiento 65 km Natural Gas Pipeline
US$ 100 million total project cost
70% long-term project debt financing
Turn-key, lump-sum, date-certain EPC
Three phase construction
Phase II completion November 2006
Long term contract in US$ with Pemex

7. Sustainable Environmental Investing?
Invest vb 1: to commit (money) in order to earn a financial return - Merriam Webster’s Collegiate Dictionary
All Conduit projects must comply with World Bank Environmental and Social Guidelines.
40% of portfolio investments have been in renewable assets – Hydro, Geothermal.
We will continue to invest in sustainable environmental projects that meet our return criteria.
No shortage of global investors for sustainable environmental projects that offer an adequate return.