DUBLIN, IRELAND, April 22nd , 2021 – Rubicon Capital Advisors (“Rubicon”) is pleased to announce its role as the exclusive financial advisor to Caisse de dépôt et placement du Québec (“CDPQ”) in the acquisition of a 15% equity interest in the Indiana Toll Road (“ITR”) from a subsidiary of the IFM Global Infrastructure Fund (“IFM GIF”).
The Indiana Toll Road is a 157-mile (252 km), limited access, divided highway in the state of Indiana which is operated and maintained under a Concession and Lease Agreement with the Indiana Finance Authority (“IFA”). 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. Since IFM’s acquisition in 2015, ITR has successfully undergone the largest capital improvements to its roadway and structures since its original construction (Project “PUSH” or “Pavement Upgrade for a Superior Highway”). The Concession and Lease Agreement grants the concessionaire the exclusive right to collect toll and other revenues from the toll road for the next 60 years.
Carmen Lopez, Managing Director and Partner at Rubicon, comments “we are delighted to have worked again with CDPQ. This landmark transaction strengthens our already close relationship with CDPQ while also cementing Rubicon’s position as one of the leading transportation M&A advisory firms in the world”.
This transaction adds to Rubicon’s already well-established track record in core infrastructure and continues its record as the leading financial advisor in the sale or refinancing of core operational infrastructure assets both in North America and Europe over the past five years. Rubicon has already announced the successful close of several significant deals in the first quarter of 2021 and is currently in the market with multiple new transactions across Europe, North America and Latin America.
About Rubicon Capital Advisors
Rubicon is one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors. With offices in Europe, the Americas and Asia, the firm has a truly global reach. Since inception in 2011, Rubicon has closed on the sale, acquisition or refinancing of over 100 essential infrastructure, energy & utilities assets located across Europe, North America, Latin America and Asia with a combined enterprise value in excess of USD $75 billion. The firm is regulated by the Central Bank of Ireland and its U.S. affiliate is a member of FINRA and SIPC and registered as a broker-dealer with the SEC. Learn more about the firm at: www.rubiconcapitaladvisors.com and by following Rubicon Capital Advisors on LinkedIn.
Caisse de dépôt et placement du Québec (CDPQ) invests constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. CDPQ is active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2020, CDPQ’s net assets total CAD 365.5 billion. For more information, visit cdpq.com, follow them on Twitter or consult their Facebook or LinkedIn pages.
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