On 2 September 2021, our client Macquarie Infrastructure and Real Assets (MIRA) through Macquarie Infrastructure Partners V (MIP V) — an Americas-focused, unlisted infrastructure fund managed by Macquarie Asset Management (MAM), together with Odinsa, the concessions company of Grupo Argos and a key player within the Latin American infrastructure sector, signed a strategic alliance to create a transport infrastructure investment platform in Colombia. This transaction is highly significant for the Colombian road market, given the current global economic situation and the innovative nature of this joint venture process that attracted many global investment firms.
The platform includes four toll roads located throughout the country, with high importance for local connectivity: Autopistas del Café, Conexión Pacífico 2, Túnel de Aburrá Oriente, Malla Vial del Meta, and its valuation amounts to COP 4.3 trillion (US$ 1.1 billion). Additionally, the platform generates the vehicle for new infrastructure investments in Colombia, Peru, and Chile.
Steer advised MIRA by providing traffic and technical due diligence services for brownfield and greenfield assets in an engagement that shared efforts of our Bogota, London and Mexico offices. The project team developed traffic forecasts and recommendations that included in-depth technical analysis with extensive knowledge of local dynamics. The delivery of combined traffic and technical due diligence services offered unique synergies to our client and their process, with a deep understanding of how the varying traffic and heavy traffic levels may impact the operation, routine, and heavy maintenance of the road concessions.