Australian fund manager to acquire Indiana toll road concession

Australian fund manager IFM Investors, on behalf of IFM Global Infrastructure Fund, has paid US$5.7 billion for the bankrupt Indiana Toll Road Concession, a 253-kilometre highway that runs from the border of Indiana and Ohio towards Chicago, giving it exclusive rights to operate and maintain the road for the next 66 years. The road, previously jointly owned by Macquarie and Spanish infrastructure group Ferrovial, went into Chapter 11 bankruptcy in September due to poor traffic volumes and was put up for sal
March 13, 2015 Read time: 2 mins
RSSAustralian fund manager IFM Investors, on behalf of IFM Global Infrastructure Fund, has paid US$5.7 billion for the bankrupt Indiana Toll Road Concession, a 253-kilometre highway that runs from the border of Indiana and Ohio towards Chicago, giving it exclusive rights to operate and maintain the road for the next 66 years.

The road, previously jointly owned by 802 Macquarie and Spanish infrastructure group 4419 Ferrovial, went into Chapter 11 bankruptcy in September due to poor traffic volumes and was put up for sale.

The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines – the Chicago Skyway in the west and the Ohio Turnpike in the east.

IFM Investors regards ITRCC as an attractive investment for its infrastructure portfolio. Julio Garcia, head of Infrastructure – North America at IFM Investors said: “We believe this is a unique opportunity to invest in a high quality United States transportation infrastructure asset. IFM Investors views the Indiana Toll Road as an essential operating asset for its strategic geographical position, long concession duration and inflation and GDP-linked tolling regime. ITR is strategically important to the North American transportation network. We are committed to maintaining the asset to a high standard that provides maximum availability and usability for customers.”
Charging, Tolling & RUC

For more information on companies in this article

Related Content

  • Australia’s Transurban to trial road user charging
    March 27, 2015
    Speaking at a major industry forum, Scott Charlton, CEO of Australian toll roads operator, Transurban, said that the country’s major cities risk a decline in liveability without major investment in transport systems and an overhaul of transport funding model. Charlton said that despite significant progress by state governments traditional funding systems were outdated, unsustainable and unfair, and cannot sustain the funding needed to address Australia’s transport infrastructure deficit. Charlton said it
    Read More
  • South Africa's first multi-lane free-flow tolling top of the line
    February 3, 2012
    Kapsch's Kjell Arnesson talks about the first multi-lane free-flow tolling project in South Africa. In South Africa, installation is ongoing as part of the Gauteng Freeway Improvement Project (GFIP) of the country's first Multi-Lane Free-Flow (MLFF) tolling system.
    Read More
  • A smarter path into the future
    November 11, 2015
    The forthcoming Highways UK event at the ExCel in London on 25 and 26 November will debate the future of smart roads, what they will look like and whether they are actually needed, along with in-car robotics and communication with intelligent infrastructure. Daniel Ruiz, Managing Director at Imtech Traffic and Infra UK will be debating the many cultural and social challenges of intelligent transport systems with Isabel Dedring, Deputy Mayor for Transport at the GLA and others in an agenda-setting Highway
    Read More
  • Infrastructure and the autonomous vehicle
    December 12, 2014
    Harold Worrall ponders the effect of autonomous vehicles on transportation infrastructure. For the last century the transportation industry has been focused on the supply of infrastructure to support the ever growing fleet of vehicles and the greater number of miles covered by each vehicle. Our focus has been planning, funding, designing, building and maintaining roadways. Politicians, engineers, planners, financial managers … all of us have had this focus. We have experienced demand growth since the first
    Read More

Highlighted Content