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

  • Adopting universal technology platforms for tolling
    July 16, 2012
    Dave Marples of Technolution argues that the continuing development of tolling-specific onboard equipment is leading us up a blind alley. We should, he says, be looking to realise universal platforms with universal application. The near-future automobile contains information systems of a sophistication to rival a jet airliner of only a few years ago, yet is 'piloted' by a considerably less well-trained individual of highly variable mental and physical capacity, and operated in a hostile, unpredictable and p
    Read More
  • Commuting habits come under scrutiny
    March 28, 2017
    Cities have a moral responsibility to encourage the smart use of transportation and Andrew Bardin Williams hears a few suggestions. Given the choice of getting a root canal, doing household chores, filing taxes, eating anchovies or commuting to work, nearly two-thirds of Americans said that they wouldn’t mind commuting into work—at least according to a poll conducted by Xerox (now Conduent) over its social media channels at the end of 2016.
    Read More
  • McCain upgrades Omni eX intersection control
    March 18, 2014
    US-based McCain has released the latest upgrade to its Omni eX intersection control software, which is said to expand traffic operations and communication capabilities. Usability improvements allow users to intuitively modify the entire database of timing parameters directly from the controller’s front panel. In addition, extra security features enable agencies to limit and track user access through unique logins and passwords. Utilising modern transportation standards, Omni eX intersection control soft
    Read More
  • Why integrated traffic management needs a cohesive approach
    April 10, 2012
    Traffic control is increasingly being viewed as one essential element of a wider ‘system of systems’ – the smart city. Jason Barnes, Jon Masters and David Crawford report on latest ideas and efforts for making cities ‘smarter’ Virtually every element of the fabric and utilitarian operations that make urban areas tick can now be found somewhere in the mix that is the ‘smart city’ agenda. Ideas have expanded and projects pursued in different directions as the rhetoric on making cities ‘smarter’ has grown. App
    Read More

Highlighted Content