Darby Overseas Investments, announced that the Brazil Mezzanine Infrastructure Fund (BMIF), managed by Darby's joint venture with the Stratus Group, has invested BRL35 million (US$20 million) in T-Grao Cargo Terminal de Graneis SA.

Transaction details were not disclosed. This transaction is the second investment for BMIF.

T-Grao operates a port terminal specialised in grain handling in the right bank of the Port of Santos, the largest and the most active port in South America. T-Grao is the only independent grain terminal operator not associated with a trading company in the Port of Santos. The investment will increase T-Grao's storage capacity and add export-related equipment. The investment will transform T-Grao from an import terminal focused on handling wheat into a bi-directional terminal that handles both imports and exports, including wheat, soy and corn.

David Hudson, Darby's senior managing director - Asia, global infrastructure and Latin America mezzanine, commented, "We are pleased to add T-Grao to our BMIF portfolio. The company fits well into our investment strategy of supplying risk capital to medium-sized companies with high quality management and good growth prospects."

Fernando Gentil, Darby's managing director responsible for Brazil, commented, "Brazil is a core market for Darby and this second investment by BMIF reinforces our long-term commitment to the country."

BMIF closed to new investors in 2008 at a total of BRL387.5 million (US$236 million) in committed capital. BMIF makes investments in Brazilian infrastructure companies for either new or expansions of existing, medium-sized infrastructure assets.