Explorador Capital Management

Explorador operates as a hybrid, running a concentrated Latin America portfolio that crosses the public-private boundary. The firm pairs liquid EM equities with direct infrastructure and real-asset investments — toll roads, energy transmission, port logistics — often sourced alongside development finance institutions. This gives it a structural advantage over long-only peers that cannot access private GDP-linked assets, and over PE funds that cannot tactically allocate to liquid opportunities.

Prior to founding Explorador in 2010, Andrew Cummins was an emerging-markets portfolio manager with a career spanning multiple institutional asset managers, where he specialized in Latin American equity strategies. His experience covers both long-only and long-short mandates, and the firm's architecture reflects that dual liquidity heritage. He remains the CIO and primary decision-maker for the portfolio.

No. The firm's mandate includes direct investments in Latin American infrastructure and real assets alongside listed equities. The firm has participated in power generation, electric transmission, and transportation infrastructure projects across Brazil, Mexico, Chile, Colombia, and Peru — often in partnership with regional operators and multilateral institutions.

Andrew Cummins, the founder and Chief Investment Officer, is the central decision-maker. The firm operates a flat structure typical of concentrated investment partnerships, with Cummins directing both the liquid equity strategy and the private infrastructure allocation.

The firm sources private infrastructure investments through relationships with regional operating partners and, historically, multilateral development finance institutions. This network gives Explorador access to GDP-linked projects — energy transmission, toll roads, ports — that are not broadly syndicated to generalist EM funds, allowing them to compete outside the standard auction processes.