Business

Odinsa, Grupo Argos concessions company and Macquarie Asset Management create platform for road toll in Colombia and the region

2 September 2021
  • Macquarie Asset Management is one of the largest global asset managers with more than $ 450 billion in assets under management, of which $ 107 billion is dedicated exclusively to infrastructure equity investments around the world.
  • The portfolio of new projects that this platform could develop in the region has the potential to exceed COP 4.5 trillion in investments.
  • With the creation of this platform by its concessions company, Grupo Argos continues to consolidate itself as a relevant player in the infrastructure sector in Colombia and the region.
  • This strategic alliance represents a clear sign of confidence in the country by Odinsa and the world’s largest infrastructure investment fund.

Odinsa, a Grupo Argos concession company, and Macquarie Infrastructure Partners V (MIP V), a private infrastructure fund focused on the Americas managed by Macquarie Asset Management (MAM), one of the largest infrastructure managers in the world [1], signed a strategic alliance for the creation of an investment platform that will manage the current road assets of Odinsa in Colombia: Pacífico 2, Túnel Aburrá Oriente, Autopistas del Café and Malla Vial del Meta, with a consolidated valuation amounting to COP 4,3 trillion.

This new road platform is consolidated as one of the most important in the region and will continue to explore additional opportunities to create value through the development of new projects that could require resources of about COP 4.5 trillion, a very relevant investment for the road infrastructure in Colombia and the region.

“ We are pleased to announce to the country this important alliance with one of the largest and most experienced infrastructure fund managers in the world, which will seek the development of road infrastructure in Colombia, Peru and Chile, complementing the road structuring and development capabilities of Odinsa with extensive knowledge of the sector, experience and access to Macquarie capital ”.

    Jorge Mario Velásquez – President of Grupo Argos and of the Board of Directors of Odinsa

Likewise, the platform will manage the initiatives that Odinsa has been leading to date in the road sector in Colombia, among which are: Perimetral de la Sabana and Conexion Centro, as well as the eventual expansion of the Túnel Aburrá Oriente concession, which in case if developed, they would have significant financial backing and technical strength for their execution.

For the creation of the platform, a private equity fund will be set up with Odinsa S.A. and MIP V as investors (each with a 50% stake). In addition to capital, MAM will bring its extensive global experience in the road sector to further strengthen the results of current and future assets. MAM, combined with Odinsa, will drive the growth of the platform focused on the development of transformational initiatives that promote the competitiveness of Colombia and the region.

“ We are excited to expand our presence in the region and invest in high-quality infrastructure assets that provide essential services to their communities. At Odinsa, we have found a great partner and we look forward to working together to strengthen road infrastructure in Colombia and the region.​”

Karl Kuchel

CEO of Macquarie Infrastructure Partners

“With this strategic alliance with Macquarie Asset Management we ratify our commitment to the country and we strengthen ourselves to continue consolidating and expanding our presence in Colombia and the region, with sustainable infrastructure projects that boost competitiveness and development.​”

Mauricio Ossa – President of Odinsa
Within the framework of the alliance, prior approval of the Odinsa Board of Directors, the sale and contribution of the shareholdings that Odinsa has in the Pacífico 2, Túnel Aburrá Oriente, Autopistas del Café and Malla Vial del Meta road concessions as well as of their private initiatives. These participations will be consolidated in the private equity fund, subject to the fulfillment of a series of precedent conditions for the closing and completion of this important transaction.
About Macquarie Asset Management

Macquarie Asset Management (MAM) provides specialized investment solutions to clients across a range of capabilities including infrastructure, renewables, real estate, agriculture, transportation finance, private credit, equities, fixed income, and multi-asset solutions.

As of March 31st, 2021, MAM’s business had USD $ 427 billion in assets under management. MAM has more than 1,900 employees operating across 20 markets in Australia, the Americas, Europe and Asia.

MAM, through its affiliates, has managed assets for institutional and retail investors since 1980 in Australia and the United States. Retail investors recognize the Delaware Funds® by Macquarie family of funds as one of the oldest mutual fund families, with more than 80 years of existence.

[1]  IPE Real Assets 2021 – Top 100 Infrastructure Investment Managers.

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