Mexican Billionaire Fernando Chico Pardo’s Net Worth Drops $300 million

Andres Manuel Lopez Obrador’s administration’s unilateral choice to modify how airports collect service fees has made one of the wealthiest men in Mexico, Fernando Chico Pardo – the biggest immediate loser.

Fernando Chico Pardo, creator of the private equity firm Promecap, is the owner of 23.2% of Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR), which is in charge of airports in places such as Cancún, Cozumel, Huatulco, Mérida, Minatitlán, Oaxaca, Tapachula, Veracruz, and Villahermosa.

Chico Pardo’s fortune was negatively affected by a 17 percent drop in Asur’s stocks on Thursday. His holdings in the company are currently valued at $1.4 billion. He’s been the chair of Asur’s board since 2005 and held the position of CEO from 2007 until 2011.

CHPAF Holdings SAPI, owned by a Mexican entrepreneur, holds 19.41 percent of the class BB shares of ASUR, with ITA accounting for half of the remaining 7.65 percent, as stated in the document.

Inversiones Productivas Kierke SA, owned by Alejandro Partido Araujo, is the other major shareholder of Grupo Aeroportuario del Sureste, S.A.B de C.V. (ASUR), as indicated in the regulatory documents.

Chico Pardo is the founder and President of the venture capitalist enterprise Promecap, S.C. Previously, he was partner and Acting CEO of the banking institution Grupo Financiero Inbursa, S.A. de C.V. (Mexico); partner and Acting CEO of stockbrokers Acciones e Inversora Bursátil, S.A. de C.V. (Mexico); founder and Director of stockbrokers Acciones y Asesoría Bursátil, S.A. de C.V. (Mexico); Director of Metals Procurement at Salomon Brothers (New York); Latin America Representative for Mocatta Metals Corporation; and Mexico Representative for Standard Chartered Bank (London).

Mr Chico Pardo has also been on the Boards of Directors of Grupo Financiero Inbursa, Condumex, Grupo Carso, Sanborns Hermanos, Sears Roebuck de México and Grupo Posadas de México.

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