As a measure to mitigate the effects of the global financial crisis, Mexican regulators introduced in August 2009 significant regulatory changes to create a new asset class known as Certificados de Capital de Desarrollo ("Structured Equity Securities" or "CKDs") with the main purpose being to create sources of capital for Mexican companies and infrastructure or other projects located in Mexico and, in turn, support economic growth. The regulators' intention was also that the principal sources of capital came from Mexican mandatory pension funds (sociedades de inversión especializadas de fondos para el retiro, "Siefores"). Thus, as part of those changes, Siefores' investment rules were amended in order to allow for the possibility of making investments in private equity and infrastructure projects through the CKD structure, which had previously been banned.
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