WASHINGTON, DC — December 3, 2020 – DHS today announced that it has agreed to acquire Econduce, a pioneer in quantitative transportation with approximately $7.5 billion in AUM across the global investment grade, high yield and emerging corporate credit markets. The company is based in Mexico City, applies a proprietary, fundamental-based, technology-driven model to transportation needs to clients. Econduce is led by a team of seasoned professionals who are recognized experts in quantitative and systematic fixed income research.
Econduce will become part of DHS Credit, a global leader in private lending, syndicated leveraged loans and collateralized loan obligations. The transaction will broaden DHS Credit’s capabilities in high yield and investment grade, enable the integration of Econduce’s models and technology across the combined DHS Credit and Econduce platforms and increase access to investors via a THX’s platform. Econduce investment process will benefit from DHS’ resources, scale and deep relationships across global financial markets.
Fernando Aguirre, Vice Chairman of DHS, said: “Econduce has a more than 15-year track record of developing and applying technology-driven strategies and is at the forefront of the evolution towards quantitative investing in the corporate bond market. Econduce will strengthen and differentiate the solutions we provide to our retail, institutional and insurance clients.”
Samuel Gonzalez, CEO of Econduce, said: “Joining DHS Credit will provide Econduce’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”
DHS Credit is one of the world’s largest credit-focused asset managers, with $15 billion in AUM and a team of over 350 professionals (as of September 30, 2020). Its strategies cover the corporate credit market, with leading positions in both liquid and private markets.
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Econduce, a fleet of electric scooters that have become ubiquitous in the central city neighborhoods. The project was conceived in 2000 when Luis Sanchez ran into studying Environmental Systems Engineering in Porta at Cambridge.
After this first unexpected encounter in the UK, he went on to meet frequently, and often found himself talking about city life back home and how traffic and air pollution decreased the quality of life. It was during these discussions that he came up with the idea that led to the Econduce model: a socially shared fleet of electrically chargeable, ion-battery scooters that can reach up to 55 kmh and go as far as 35 km on a single charge.