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      <image:title>News - Darby International Capital Joins Private Markets Climate Initiative &amp;nbsp; - Make it stand out</image:title>
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    <loc>https://darbyinternational.com/team</loc>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602535844801-4XVLRL056W85F1W9RBYM/team.jpg</image:loc>
      <image:title>Team</image:title>
      <image:caption>Richard (Rick) H. Frank, Jr. is the CEO and Founder of Darby International Capital. He is an industry veteran with over 25 years of experience in emerging markets credit and private equity investing. Mr. Frank began his career at Goldman Sachs’ Investment Banking Division. He later worked at International Finance Corporation (IFC, World Bank Group) where he led transactions across Latin America, Asia, and Africa. In 2007, Mr. Frank joined Darby Overseas Investments, the emerging markets private equity subsidiary of Franklin Templeton. At Darby Overseas Investments, he led the firm’s regional private debt strategy in Latin America as a Senior Managing Director over a fourteen-year period. He served as the Chairman of the Investment Committee for Darby Latin American Mezzanine Fund I, Darby Latin America Mezzanine Fund II, and Darby Latin American Private Debt Fund III. Mr. Frank was responsible for the management of a regional team based in Washington DC, Bogotá, Mexico City, and São Paulo. He also headed Darby Overseas Investments’ Colombian infrastructure fund, FINTRA. Mr. Frank led the fundraising and launch of Darby Latin American Mezzanine Fund II (2008) and Darby Latin American Private Debt Fund III (2016) as well as the investment deployment of the private debt strategy. Mr. Frank has served on the board of eight portfolio companies in Latin America. Mr. Frank has Colombian/US dual citizenship and received both his BS and MBA from Georgetown University.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602535863018-A7U5D1MJVV3A5QUM8LMU/team.jpg</image:loc>
      <image:title>Team</image:title>
      <image:caption>Ignacio Aicardi is the CIO and Founder of Darby International Capital. He has over 25 years of experience managing credit investment strategies in emerging markets. Mr. Aicardi was a Managing Director at Darby Overseas Investments, the emerging markets private equity subsidiary of Franklin Templeton, where he led investments in the private debt space in Latin America. He served as a member of the Investment Committee of Darby Latin American Mezzanine Fund II and Darby Latin American Private Debt Fund III. Mr. Aicardi was responsible for all investments in Latin America (ex-Brazil) for the Latin American Private Debt strategy, participated in fundraising, launch and deployment. In his role, Mr. Aicardi managed all aspects of the credit investment process and oversaw the team of investment professionals in Colombia and Washington DC. Prior to joining Darby Overseas Investments in 2009, Mr. Aicardi was a Vice President at Sumitomo Mitsui Banking Corporation in New York, where he worked on structured credit and project finance investments in Latin America. Mr. Aicardi also worked at Bear Stearns early in his career and in several managerial positions in his native country of Uruguay. Mr. Aicardi holds an MBA from Columbia Business School and received a Bachelor of Business Administration from the Universidad de la Republica in Uruguay.</image:caption>
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    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609896009569-9ZLJ91BF5NID7Y57NYIP/team.jpg</image:loc>
      <image:title>Team</image:title>
      <image:caption>Hanler Perez is the Chief Financial Officer of Darby International Capital. He has more than 15 years of experience in the financial services sector. Prior to joining Darby International Capital in 2021, Mr. Perez was the Controller of the Latin America and European strategies at ACON Investments. At ACON, Mr. Perez was responsible for managing the accounting and finance functions of private equity funds investing in middle market companies in Latin America and Europe. Prior to joining ACON in 2014, Mr. Perez was a Senior Associate at PricewaterhouseCoopers in its asset management audit group. Mr. Perez also worked at ePlus and Merrill Lynch as an internal auditor. Mr. Perez holds both a Bachelor of Science in Accounting and an MBA from Bentley University. He is a licensed Certified Public Accountant in Connecticut.</image:caption>
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      <image:title>Team - Make it stand out</image:title>
      <image:caption>Sean Norris is the Head of ESG and Climate for Darby International Capital.  He has over 8 years of experience with sustainability in emerging markets.  Prior to joining Darby International Capital in 2023, Mr. Norris served as Senior ESG Associate with Emerging Capital Partners, one of the largest and longest-established private equity fund managers focused on investments in Africa. Mr. Norris was responsible for assisting with ESG due diligence, ESG risk management, and impact reporting. Previously, Mr. Norris also worked on conservation and economic development projects in rural Panama as a part of the United States Peace Corps.  As a student, Mr. Norris completed a fellowship with Hewlett-Packard’s sustainability division. He holds a BA from the University of Miami and an MA in International Development from the Johns Hopkins University School of Advanced International Studies (SAIS). He also holds a Fundamentals in Sustainable Accounting (FSA) Credential from the International Financial Reporting Standards (IFRS) Foundation</image:caption>
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      <image:title>Team</image:title>
      <image:caption>Ricardo Roccia is a Managing Director of Darby International Capital and currently is a director or observer on the boards of one portfolio company in Darby Latin American Mezzanine Fund II and four companies in Darby Latin American Private Debt Fund III. Mr. Roccia brings over 23 years of professional experience in the financial services and C-level management. Prior to joining Darby International Capital in 2021, Mr. Roccia was a Managing Director of Darby Overseas Investments, the predecessor firm of Darby International and the emerging markets private equity subsidiary of Franklin Templeton, where he was responsible for deal sourcing, execution of investment opportunities and monitoring of portfolio companies. Prior to joining Darby Overseas Investments, Mr. Roccia was the founder and served as the CEO and CFO of a renewable energy and biofuels platform in Brazil with over BRL 1 billion million (~USD 200 million) in annual revenues. Mr. Roccia structured thousands of megawatts in renewable energy projects and worked at Goldman Sachs (London-UK) &amp; Banco Pactual (São Paulo-Brazil) in the corporate finance and fixed income divisions. Mr. Roccia holds both a Master’s Degree and a Bachelor of Science from Fundação Getúlio Vargas, São Paulo, Brazil.</image:caption>
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      <image:title>Team</image:title>
      <image:caption>Pedro S. Scomparim is a Senior Associate at Darby International Capital. He brings over 8 years of professional experience in the financial industry. Prior to joining Darby International Capital in 2024, Mr. Scomparim was an Associate at Patria Investments, a leading Latin American private equity fund with USD 28bn in assets under management. He was responsible for leading the investment process for M&amp;A targets of portfolio companies, developing materials on valuations and returns, as well as qualitative analyses for consideration by the investment committee. Mr. Scomparim developed major regional roll-up theses, analyzing risks and mitigants, market opportunities, industry dynamics, and historical trends, to better invest capital. Prior to joining Patria Investments, Mr. Scomparim worked as an M&amp;A &amp; Financial Consultant for Setter Investments. He was involved in the allocation of over USD 750mn in Brazil’s health insurance market. He executed take-over and post-merger integration, leading senior teams. Mr. Scomparim holds a Bachelor of Business Administration from the Insper Institute of Education and Research.</image:caption>
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      <image:title>Team</image:title>
      <image:caption>Andres De La Cuesta is a Principal at Darby International Capital. He brings over 12 years of professional experience in credit investment analysis. Prior to joining Darby International Capital in 2021, Mr. De La Cuesta was a Senior Associate at Darby Overseas Investments, the predecessor firm of Darby International and the emerging markets private equity subsidiary of Franklin Templeton, where he was responsible for deal sourcing outside of Brazil, execution of investment opportunities, and monitoring of portfolio companies of Darby Latin American Private Debt Fund III, as well as for the day-to-day management of Darby’s Colombian infrastructure fund, FINTRA. Mr. De La Cuesta serves as a director or observer on the boards of three portfolio companies in Darby Latin American Private Debt Fund III and two portfolio companies in FINTRA. Prior to joining Darby Overseas Investments in 2017, Mr. De La Cuesta was a Director at Fitch Ratings in Chicago, where he worked in structured credit and project finance investments globally. Mr. De La Cuesta holds an MBA from Booth School of Business at The University of Chicago and received a Bachelor of Economics from the Universidad de los Andes in Colombia.</image:caption>
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      <image:title>Team</image:title>
      <image:caption>Alexander Vergara is a Senior Associate at Darby International Capital. He brings over 10 years of professional experience in the financial industry. Prior to joining Darby International Capital in 2022, Mr. Vergara was a Vice President at Corredores Davivienda S.A., Investment Banking Division where he was responsible for the execution of debt advisory, M&amp;A, and capital markets transactions for seven years. Prior to rejoining Corredores Davivienda S.A., Mr. Vergara worked in the private equity industry in Europe at Nexxus Iberia Private Equity in Madrid and Duke Street Capital in London; in both funds, he was involved as part of the investment team in deal sourcing, execution of investment opportunities, and portfolio management activities. Mr. Vergara holds a Masters in Finance from London Business School and received a Bachelor of Business Administration from Colegio de Estudios Superiores de Administración - CESA.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609896168847-D8A68PSB4EH5C6EU65XL/team.jpg</image:loc>
      <image:title>Team</image:title>
      <image:caption>Diane Smith is a Senior Advisor at Darby International Capital, bringing over 30 years of experience in both U.S. and Latin American private equity and structured credit portfolio management. Prior to joining Darby International Capital in 2021, Ms. Smith was a Senior Advisor at Darby Overseas Investments, the predecessor firm of Darby International and the emerging markets private equity subsidiary of Franklin Templeton. She was responsible for closing fundraising for Darby Latin American Mezzanine Fund II (2008) as well as leading portfolio management for Darby Latin American Mezzanine Debt Fund I before later serving as an Investment Committee member of Darby Latin American Mezzanine Fund II and Darby Latin American Private Debt Fund III. Prior to joining Darby Overseas Investments, Ms. Smith served as Managing Director and senior portfolio manager for a combined 14 years with Electra Private Equity PLC (New York) and its Brazilian fund management affiliate, Pactual Electra Capital (Brazil).  At Electra Ms. Smith played a key role in building the firm’s new U.S. direct investment portfolio in equity and structured credit deals in a wide range of middle market-sized businesses.  In the late 1990's Ms. Smith spearheaded Electra's expansion into South America, forming joint venture fund management companies, raising investment funds and co-managing the portfolios while based in Brazil. Prior to joining Electra, Ms. Smith helped build the new leveraged buyout business for Lincoln Ventures, a New York-based thrift, and prior to Lincoln Ventures she served in international banking and corporate finance roles with Manufacturers Hanover Trust. Prior to MHT, Ms. Smith spent several years in Spain developing export markets for Spanish producers of industrial and consumer products. Ms. Smith holds a Masters in International Management from Thunderbird School of Global Management and received a Bachelor of Arts in Communications, summa cum laude, from Washington State University.</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1623416235699-Q208J3ZLXYY5IAUSKBN9/Capture.JPG</image:loc>
      <image:title>Team - Make it stand out</image:title>
      <image:caption>Richard H. Frank, Sr. is a former managing director of the World Bank Group and CFO of the International Finance Corporation (IFC), both in Washington, D.C. He brings a lifetime of demonstrating the importance of global perspective and the interconnectedness of the world’s nations and people. The World Bank Group is a leading international development organization that fights poverty by assisting middle-income and low-income countries. It offers loans, grants, advice, and training in both the private and public sectors, with the goal of boosting prosperity and ending extreme poverty. In his more than two decades with the World Bank, Mr. Frank oversaw South Asia and Latin America operations as managing director and was active in project and investment work throughout Latin America, Asia, the Middle East, and Eastern Europe. He also chaired the Private Sector Group, coordinating the private sector activities of the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). Following his career with the World Bank and the IFC, Mr. Frank was executive chairman, president, and CEO of Darby/Franklin Templeton for another two decades, linking capital with investment opportunities throughout the developing world. He currently chairs Darby -Colpatria Group Joint Venture infrastructure fund investment committee and serves on the investment committees for Darby Latin American Mezzanine Fund II and Darby Latin American Private Debt Fund III. Mr. Frank earned a Bronze Star for his service at the Pentagon and in Vietnam as a captain in the U.S. Army. He holds a bachelor’s degree in mechanical engineering from the South Dakota School of Mines and Technology and a master’s degree from Sloan School of Management at MIT. Mr. Frank was selected as a postgraduate MIT Sloan School Fellow, serving two years as a financial and economic adviser for private sector investing in Colombia.</image:caption>
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      <image:title>Team - Make it stand out</image:title>
      <image:caption>Roberta Brzezinski is a partner with Control Risks and Head of the firm’s business intelligence activities in the Americas, managing a 50-person team across the United States, Canada, Mexico, Brazil and Colombia. Ms. Brzezinski has 25 years of experience as a principal private equity, infrastructure, and private debt investor across the world’s emerging markets. She has served both as a fund manager and as an institutional investor. Her key roles have included Managing Partner at South Africa’s Capitalworks Emerging Markets; Managing Director in the Growth Markets practice of Canada’s CDPQ; one of the original partners of Poland’s Abris Capital Partners; Managing Director at the AIG Infrastructure Funds; and Investment Officer at the World Bank’s International Finance Corporation. Ms. Brzezinski has invested across the world’s developed and emerging markets and has a deep familiarity with key issues faced by asset owners, lenders and corporations across the investment cycle. She has also served on a number of private and public corporate boards and investment committees. Ms. Brzezinski holds an MBA with honors from Georgetown University and an AB magna cum laude from Harvard College. A US citizen, she spent six years living and working in Ukraine, Poland and Russia. She speaks fluent French and Russian and understands Spanish and Ukrainian. Based in New York, she is a volunteer firefighter on Fire Island and serves on the board of New Women New Yorkers, an immigrant-focused NGO.</image:caption>
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    <lastmod>2026-01-07</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609875898026-8GBUAHPMQQ8KO7OZYL4J/cyan-box.png</image:loc>
      <image:title>About Us - $500M+</image:title>
      <image:caption>ACTIVE COMMITTED CAPITAL</image:caption>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609875937768-56NR29S9LW7M1QQ9LE9Z/cyan-box.png</image:loc>
      <image:title>About Us - 8</image:title>
      <image:caption>CURRENT PORTFOLIO COMPANIES</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609875965912-4OST756GPP5HU5J7YJNB/cyan-box.png</image:loc>
      <image:title>About Us - 3</image:title>
      <image:caption>GLOBAL OFFICES</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609876008257-P2N1Y2HU8ZVXBP9N1P0B/cyan-box.png</image:loc>
      <image:title>About Us - $1.2B+</image:title>
      <image:caption>TOTAL CAPITAL DEPLOYED*</image:caption>
    </image:image>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609875988908-KO77TB38AG00X8INMF9G/cyan-box.png</image:loc>
      <image:title>About Us - 70+</image:title>
      <image:caption>YEARS OF COLLECTIVE PRIVATE DEBT INVESTING EXPERIENCE</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609876024757-QCQKXQ4NZ9OERSPARVQ2/cyan-box.png</image:loc>
      <image:title>About Us - 20+</image:title>
      <image:caption>YEARS OF INVESTMENT TRACK RECORD*</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609967872206-Y14RG8ZM547N3BEY6R23/Darby+Map+-+SH.jpg</image:loc>
      <image:title>About Us</image:title>
    </image:image>
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  <url>
    <loc>https://darbyinternational.com/investments</loc>
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    <lastmod>2026-01-07</lastmod>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/0f349547-2c97-4dff-a32f-a534fd18e9bd/Avla+pic1.jpg</image:loc>
      <image:title>Investments - Make it stand out</image:title>
      <image:caption>AVLA group is a specialty insurance solutions provider focused on SME’s in Latin America, The Company’s core offerings include surety bonds and trade credit, which aim to provide financial support for SMEs. AVLA group was founded in 2008 and is headquartered in Santiago de Chile, with offices in Peru, Brazil, Mexico and the US</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/7f18acb2-75b5-44e6-b9f6-f52999397af1/Brix+image1.jpg</image:loc>
      <image:title>Investments - Make it stand out</image:title>
      <image:caption>BRIX develops, builds, and operates distributed generation solar farms in the states of Pernambuco and Bahia, Brazil. Brix is an experienced player in the renewable energy space with over 14 years in the market. Brix has its headquarters in Belo Horizonte</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/f142889b-1784-47ae-81b1-ecd997b2c153/Inka.png</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Inka’s Berries is a vertically integrated Peruvian company founded in 2009 and specialized in the development of new blueberries varieties and in growing and exporting premium blueberries. The Company is domiciled in Huarua, Lima, and currently produces blueberries on approx. 600 ha of land, split in three production sites</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857656559-SO2MFNJSH5SDUBPEIDA8/logos_Abengoa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>EPC contractor for the infrastructure and electricity sector. Operator of transmission lines in Peru. Headquartered in Lima, Peru</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602855656310-YBSVDC2LW32DRDP3ACGV/logos_Bioerix.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Bioerix is a healthcare company that distributes hospital supplies and medicine in Uruguay. The Company is also leader in diagnostic technology and laboratory set ups. Headquartered in Montevideo, Uruguay</image:caption>
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      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857681904-JFXDPC2ACJQYPSP3D1RW/logos_W.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Brazil-based company that produces tin ingots, tin-based alloys and solders that are sold to the electronics, chemicals, automotive and auto parts industries. Headquartered in Ribeirao Preto, Brazil</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857546244-U9GM6TP6IAJCGXVYLG84/logos_Cordeiro.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Producer of highly specialized copper and aluminum wires and cables for the construction, energy and industrial sectors. Headquartered in San Pablo, Brazil</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1623417206556-6AGROVQEB21JBNLR7EGU/2w.png</image:loc>
      <image:title>Investments - Make it stand out</image:title>
      <image:caption>Integrated renewable energy generation and energy trading platform dedicated to the free energy market customers and ranks among the top ten independent energy traders in Brazil. Headquartered in San Pablo, Brazil</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602875817730-R6B4C957YKZLOP3FCO86/logos_datapoint.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>IT distributor and solution provider for small and large corporates in Colombia. Headquartered in Bogota, Colombia</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857669252-FMCJPDCZ9R6CLS4EQD1S/logos_Biopass.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Biopharmaceutical company that provides innovative and exceptional products and services for unmet health needs of the Latin American population, primarily throughout Colombia and Panama. Headquartered in Ciudad de Panama, Panama</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857532794-ROA8GPVMUKN6VIYI6ONV/logos_Bloom-Farms.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Agricultural company in Mexico specializing in growing blueberries for export. Innovation and sustainability are the key ingredients that produce superior fruit. Headquartered in Guadalajara, Mexico</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1623417006676-49N52Y2W4NE6L07JCWU2/ibt+health+logo.JPG</image:loc>
      <image:title>Investments - Make it stand out</image:title>
      <image:caption>Leading healthcare operations provider that focuses on providing construction, financing, and the operation of medical and nonmedical services for two hospital concessions in Peru. Headquartered in Lima, Peru</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857645153-1SGVQI26INTH5CUVZG3X/logos_Neo.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>With a technology platform built around compression and transportation of natural gas from the source to the customer, NEOgas provides natural gas to customers without pipeline access to eliminate use of higher emitting oil and propane.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602876062684-QGWEJJSB7NK1590CBSUM/logos_SanVictoriano.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Cattle, soy and rice farm with 70 years of operating experience and 2,200 hectares of fertile land in Uruguay. Headquartered in Cerro Largo, Uruguay</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602876988389-0X6VNIZH52FPI9J3AQ40/logos_Tebsa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>TermoBarranquilla (TEBSA) is Colombia’s largest thermal power plant with 918MW of installed capacity providing 21% of the country’s total thermal capacity. Headquartered in Barranquilla, Colombia</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602877014740-916Q86HGHQ7ZVMTK2KVL/logos_ISA.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Mexican outdoor media and advertising company operating advertising of Mexico City’s Metro and international airport. Headquartered in Mexico City, Mexico</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602877032235-P8VTUXTD454OE2K855MK/logos_Santos.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Brazilian company that manages the construction and administration of the Tecon 1 terminal in the Port of Santos. Headquartered in Santos, Brazil</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602627587851-ZMIGDXQI0C7FWMZV06PJ/logos_cecrisa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Brazilian manufacturer of ceramic tiles for the domestic and international markets.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602853328378-KVL44LDC9O4NJHUW5J94/logos_promotora.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Company provides non-hazardous solid waste services to municipal (residential), commercial, and industrial customers in Mexico.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602853189137-BYKP7WZR38TOFQ4SOPQM/logos_GTB.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>GTB is leading operator of natural gas transportation from Bolivia to Brazil. The pipeline connects the natural gas reserves in Bolivia with the markets of Sao Paulo and Porto Alegre.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602853584179-T4CTDDVGQII5I9UEL3IP/logos_Fluviomar.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Fluviomar engages in the inland river transportation business along the Paraguay and Paraná River System in South America, commonly known as the Hidrovia Waterway.  The Hidrovia Waterway passes through five countries, Argentina, Bolivia, Brazil, Paraguay and Uruguay.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602853784323-SCYG60XAJ3NIOKQ66M3P/logos_Protel.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>PROTEL operates a public telecommunications network in Mexico. PROTEL has Class 5 operations, offering its customers basic local telephony, point to point microwave, point to multipoint broadband wireless data, and other value added services.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602853815232-3FB0X66GK1D5CSYWRMMF/logos_Pecsa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Pecsa is one of the largest wholesale distributors of liquid fuels in Peru. The Company distributes fuels nationally through an exclusive network of gas stations that operate under the “Pecsa” brand.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609895224697-EBYLM4TXHJU716IP0VA7/logos_Tapsa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>TAPSA administers the construction and operation of four wastewater treatment plants and a 111-kilometer trunk sewerage network in Mexico.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602854741717-HMHR329LXS877VOASCHB/logos_Avantel.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Avantel is a mobile wireless communications company in Colombia. The Company operated a nationwide SMR (Specialized Mobil Radio) network in Colombia that combines the dispatch mode of a radio system with cellular capabilities.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602876836604-D5NOP9WOGPX0A11QIY38/logos_CCI.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>CCI a civil construction company and toll road operator in Argentina.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609895163674-3B7WZRCZO6J5CHT3TRKK/logos_TIC.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Owner of a transportation rights contract with Ocensa, which gives right to preferentially use up to 5% of Ocensa's transport capacity.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857626908-NV3EY3DJTLLTBP2Q9UN1/logos_EGE.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Second largest power generation company in DR with 905MW distributed in Wind, HFO and Gas.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857566077-6D5RFKBHHE7P54J7BK1T/logos_Ocensa.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Ocensa owns the longest oil pipeline in Colombia, with 836 km on land and 12 km under water, with 10 pumping stations. The Company also operates another pipeline called the Oleoducto Bicentenario.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609895446305-CDQVJY00SWD592FUQQ02/logos_Tababela.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Logistic center at the Quito International Airport. The Company processes all imports to Quito arriving by air while also consolidating export cargo.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602857613207-B8PK1EPEEEZHLZXCU7TI/logos_Interug.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>Regional tug boat operator with operations in Colombia, Mexico, Honduras, Costa Rica and Brazil. The Company provides port assistance and off shore operations.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1bb19daa-3dc5-420f-a939-1343d67e289c/ART+JPG.jpg</image:loc>
      <image:title>Investments - Make it stand out</image:title>
      <image:caption>ART is a leading Brazilian developer and manufacturer of technology, solutions and products for the railroad industry, with a focus on safety, asset productivity and cost reduction. Headquartered in Colombo, Brazil</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1602855461757-OTHV8A6MEREFBYY7GI8M/logos_VREC.jpg</image:loc>
      <image:title>Investments</image:title>
      <image:caption>VREC is an agro-industrial group with 3.4 million tons of sugarcane crushing capacity and over 20.000 hectares of proprietary feedstock, having the ability to produce hydrous ethanol, VHP sugar and electrical energy from sugarcane bagasse.</image:caption>
    </image:image>
  </url>
  <url>
    <loc>https://darbyinternational.com/contact</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2025-01-22</lastmod>
  </url>
  <url>
    <loc>https://darbyinternational.com/strategy</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2024-02-14</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/1609889058352-B4DI3NOQP5V7ILMR0OE4/Strategy_Chart.jpg</image:loc>
      <image:title>Strategy</image:title>
    </image:image>
  </url>
  <url>
    <loc>https://darbyinternational.com/terms-and-conditions</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2021-02-01</lastmod>
  </url>
  <url>
    <loc>https://darbyinternational.com/sustainability</loc>
    <changefreq>daily</changefreq>
    <priority>0.75</priority>
    <lastmod>2024-02-15</lastmod>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/ab66f9c6-daf1-4a36-928b-39399891a26c/Website+ESG+Process.png</image:loc>
      <image:title>Sustainability - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/506dade3-0b47-4be0-a0c4-a1906b407f55/shutterstock_279100820.jpg</image:loc>
      <image:title>Sustainability - Transparency and Reporting</image:title>
      <image:caption>We believe part of responsible investing is being transparent about our impacts with stakeholders. Darby utilizes recognized international frameworks like the IFC Performance Standards so our ESG objectives are clear and defined. As signatories to the UN Principles for Responsible Investment (PRI), we are committed to regular disclosures about the firm’s overall sustainability strategy. Darby is also a member of the Investidores pelo Clima (Investors for Climate) initiative in Brazil.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/a53bbb53-2ee2-49a7-8b7c-b5384b94d9bb/PRI-Sig-Web-V1.png</image:loc>
      <image:title>Sustainability - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/86efcc5f-9ea8-4c8b-be02-46d3ffa4388b/IPC+IG+Logo.png</image:loc>
      <image:title>Sustainability - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/28b26de7-447e-44a0-a865-206c14343c3c/images.png</image:loc>
      <image:title>Sustainability - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
    <image:image>
      <image:loc>https://images.squarespace-cdn.com/content/v1/5f82594bbf83f006a7ce18a8/88b0d432-9e4f-4029-9cde-61f5b0ef9a4d/Picture1Transparent1474x1132.jpg</image:loc>
      <image:title>Sustainability - Make it stand out</image:title>
      <image:caption>Whatever it is, the way you tell your story online can make all the difference.</image:caption>
    </image:image>
  </url>
</urlset>

