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

  • Make traffic policing and casualty reduction a priority, says charity
    April 29, 2015
    A report released this week by road safety charity Brake and Direct Line has revealed that nearly half of UK drivers (49 per cent) admit to breaking traffic laws. Of those, half say they do so through inattention, while the other half admit to doing so deliberately, because they think they can get away with it or do not agree with the laws. When asked what unsafe driving behaviour they witnessed most, 71 per cent cited distraction such as from mobile phones, followed by tailgating speeding (67 per ce
    Read More
  • Boost to infrastructure, autonomous cars in UK budget
    March 17, 2016
    The UK chancellor announced in his spring budget what he called the biggest investment, US$87.5 billion (£61 billion), in transport infrastructure in generations and is increasing capital investment in the transport network by 50 per cent over this Parliament compared to the last. The government plans to establish the UK as a global centre for excellence in connected and autonomous vehicles by establishing a US$24.1 million (£15 million) ‘connected corridor’ from London to Dover to enable vehicles to com
    Read More
  • Connecticut Transit uses web feedback to improve user experience
    May 27, 2014
    Connecticut champions open government and open data to help fostertransparency, accountability and citizen engagement – and that includes transportation matters as Andrew Bardin Williams discovers. The last thing anyone wanted was to inconvenience or displace others - least of all people who lived and worked in the neighbourhood. Yet, workers in an office building in downtown New Haven, Conn., were tired of shuffling through hoards of people who kept sitting on the stoop to the building while waiting for th
    Read More
  • Penang rolls out transport master plan
    February 18, 2015
    Six companies have been shortlisted as potential project delivery partners in the US$7.5 billion Penang Transport Master Plan (PTMP), which is to be rolled out in stages from 2017. The plan aims to resolve traffic woes in the state, especially on the island. It involves massive infrastructure works and a comprehensive public transport system incorporating light rail transit, trams, buses and catamarans, expanding roads and building new highways. It also includes five new intra-state highways and an undersea
    Read More

Highlighted Content