Related entities and control environment
The management and operation of Pei are framed within a control environment which is composed of different elements distributed among the corporate bodies and companies involved in the management and governance of Pei, according to the processes and activities under their responsibility. The systems and controls implemented by each of those involved are aimed at identifying, monitoring and managing the risks to which the vehicle may be exposed, in order to implement the necessary controls and mitigants.
Investors General Assembly
The Investors’ General Assembly will be integrated by the Investors with the quorum and under the conditions set forth in the Trust’s Equity Securities Issuance and Placement Program Prospectus.
Advisory Committee
Pei has a high-level Advisory Committee, responsible for making the main decisions on acquisitions, indebtedness, and issuances and, generally monitoring the vehicle’s performance. Pei’s Advisory Committee has a mixed composition, as it consists of independent members and members of the Real Estate Manager.
Management Agent
Is Fiduciaria Corficolombiana S.A., which shall fulfill the Management Agent’s duties and, in accordance with Article 5.6.3.1.1 of Decree 2555, shall collect the proceeds from the Issuance Program, make with investments under this Prospectus charged to the Trust’s resources, and act before the Investors and third parties as the Trust’s spokesperson. Additionally, the Management Agent has internal policies on corporate governance practices and business ethics, which apply to the governing bodies and personnel of the Management Agent in charge of managing Pei.
Legal representatives:
Jaime Alberto Sierra
Economist from Universidad Santo Tomás, Specialist in Private Finance of Colegio Mayor de Nuestra Señora del Rosario, Master – Advanced Program in Business Management of Universidad de la Sabana’s INALDE School of Management and Business. For the past twenty years, he has held management positions in financial sector entities in the commercial, risks, and investment banking areas. He is a principal member of the Boards of Directors of reputed companies in various sectors of the country’s economy.
Edwin Roberto Díaz Chala
Economist from Universidad Santo Tomás, specialist in Financial Management from Pontificia Universidad Javeriana. He has technical and financial education on the structuring of trust businesses and products, and their application in different industries. Mr. Díaz is knowledgeable in the planification and development of commercial strategies, with more than 20 years of experience in the financial sector, serving in management positions in commercial areas.
Juan Carlos Pertuz Buitrago
J.D. from Universidad de los Andes, expert in infrastructure law, private equity funds, public administrative law, financial law, litigation and arbitration. Mr. Pertuz has experience as Legal Manager and General Secretary for companies in the infrastructure and financial sectors, the contractual structuring of highly complex financial instruments, infrastructure projects and their short and long-term financing schemes.
Jaime Andrés Toro Aristizabal
Business Manager from Universidad EAFIT and specializations in Finance from Universidad de Antioquia and Business Law from Universidad de Medellín. Master’s in business administration from Universidad de la Sabana’s Inalde Business School. Mr. Toro has served in a number of directive positions in commercial areas of the financial sector for more than 20 years.
Equity Securities Investors Legal Representative
It is the financial services company Fiduciaria Colombiana de Comercio Exterior S.A. – Fiducoldex, or the entity legally authorized to do so, as selected by the Investors General Assembly to replace it.
Bondholder's Representative
Represents the bondholders rights and common interests before the issuer. Currently the Bondholders Representative is the trust company Itaú Fiduciaria Colombia S.A. (formerly Itaú Asset Management S.A.) It can resign, be removed, or replaced according to regulation Decreto 2555 de 2010.
Real Estate Manager
Pei Asset Management is in charge of the real estate administration of the vehicle and the portfolio of assets that comprise it. The company’s team has a modern, strategic vision and extensive knowledge of the real estate sector and the capital market, making it a pioneer in the provision of innovative investment alternatives.
Our team:
Jairo Alberto Corrales Castro
CEO
María Alejandra Cardozo Otoya
VP of Investments
Edwin Urrea
Financial Manager
Andrés Mauricio Esquivel
Commercial Manager
Jimena Maya Muñoz
Strategy, Innovation and Communications Manager
Iván Darío Parra
Asset Management Manager
Ginna Castro
Human Talen Manager
Claudia Valencia
CAO
Board of directors
The Asset Manager’s operations are guided by a Board of Directors composed of three members selected by the Investors’ Assembly. This Board ensures the sound management of the business and provides oversight to the Asset Manager’s Executive Director and CEO.
Internal audit:
The Real Estate Manager has an internal audit area that periodically audits the company’s processes, including those deployed for the administration of Pei, to ensure that they comply with the procedures and policies established for each process. The audit includes the supervision of processes involving third parties such as specialized operators and clients of Pei properties. The audit includes the supervision of processes involving third parties such as specialized operators and clients of Pei properties.
Pei Asset Manager’s Auditor:
Professional or independent firm in charge of issuing an objective opinion on the quality and veracity of Pei AM’s financial information. Currently, EY Colombia.
Specialized committees:
With the purpose of ensuring efficient and responsible corporate governance in risk management, strategy compliance, and decision-making, including those related to the services that the Real Estate Administrator provides to Pei, the Real Estate Administrator has a group of specialized committees by subject. These committees are responsible for monitoring, controlling, and proposing strategies for managing matters such as sustainability, corporate ethics, counterparty risks, crisis management, and others.
Get to know them below:
Audit committee:
Este Comité está encargado de supervisar la gestión y efectividad del sistema de control interno, monitorear la independencia y objetividad del auditor interno, definir y hacer seguimiento al plan de auditoría interna y; evaluar los hallazgos detectados en los resultados de las auditorías y los planes de acción implementados. El Comité de Auditoría está compuesto por el Director Ejecutivo de Pei AM y el Auditor Interno.
Sustainability committee:
Encargado de definir, actualizar y hacer seguimiento al cumplimiento y evolución del modelo corporativo de sostenibilidad (y a las políticas que lo conforman) bajo el cual la Administradora administra el vehículo. Está compuesto por el Presidente, la Directora Legal y la Gerente de Innovación, Estrategia y Comunicaciones.
Procurement committee:
Vela por el cumplimiento de la Política de Compras que promueve la objetividad y transparencia en las contrataciones de la Administradora. Así mismo, evalúa y aprueba aquellas contrataciones de proveedores cuando la modalidad de contratación presente alguna excepción o incompatibilidad con las disposiciones de la Política de Contratación y Compras de la Administradora. Lo componen el Vicepresidente Financiero y de Relación con Inversionistas; la Directora Legal y el gerente del área que solicita la contratación.
Ethics committee:
Es el órgano corporativo encargado de vigilar el cumplimiento de Código de Conducta; de supervisar y gestionar las denuncias realizadas al Buzón Ético; de resolver situaciones de Conflicto de Interés en las que estén involucrados los trabajadores de la Administradora y de iniciar investigaciones y definir el curso de acción a potenciales violaciones al Programa de Transparencia y Ética Empresarial. Está conformado por el Presidente, Director Legal, Gerente de Talento Humano. El Oficial de Cumplimiento asiste con voz pero sin voto, cuando los temas a discutir estén relacionados con las funciones a su cargo.
Accounts receivable and Counterparty Risk Management Committee:
Responsible for approving and ensuring compliance with counterparty risk management policies arising from the non-fulfillment of payment obligations in contracts and monitoring the status of the portfolio of Pei’s tenants and concessionaires. It is composed of the Vice President of Finance and Investor Relations, the Commercial Manager, the Director of Accounting, Taxes and BackOffice, and the Director of Financial Planning, Risk, and Collections.
SAGRILAFT:
In order to prevent the risk of money laundering, financing of terrorism and financing of the proliferation of weapons of mass destruction, the Real Estate Administrator establishes procedures and controls that govern its relationship with third parties, which are described in the SAGRILAFT Policy and Manual. In compliance with best practices and legal requirements, the Administrator has a compliance officer in charge of supervising the fulfillment with the controls established therein. It also conducts annual training and awareness-raising activities for its employees on the subject.
PTEE:
The Transparency and Business Ethics Program establishes the standards of behavior expected from the Real Estate Administrator’s employees with regard to the different stakeholders in order to promote impartial, transparent and trustworthy relationships, ensuring the ethics, integrity and quality of the services it provides as a real estate manager.
Statutory Auditing
Pei will have its own statutory auditing, exclusive and independent from that of the Management Agent. Pei’s statutory auditor may be the same or other than that of the Management Agent, as determined by the Advisory Committee. All of the Statutory Auditing findings and reports shall be disclosed in the reports submitted to the Investors General Meeting and the notes to the end-of-period financial statements.
