Northleaf Capital Partners has agreed to acquire a 33 percent stake in Northwest Parkway, a toll-road located in the Denver, Colorado area. No financial terms were disclosed. Northleaf is investing as part of a consortium that includes DIF Infrastructure IV and HICL Infrastructure Co Ltd, which has conditionally acquired a 100 percent equity interest in Northwest Parkway from Brisa, a Portuguese toll-road operator. The deal is expected to close in the first half of 2016. Toronto-based Northleaf is a private equity, infrastructure and private credit manager with $9 billion under management.
Northleaf agrees to acquire stake in Northwest Parkway
TORONTO–(BUSINESS WIRE)–Northleaf Capital Partners (“Northleaf”) is pleased to announce that it has reached an agreement to acquire a 33.3% equity interest in Northwest Parkway, a toll-road located in the Denver metropolitan area of Colorado, U.S.A. Northleaf is part of a consortium alongside DIF Infrastructure IV and HICL Infrastructure Company Limited which has conditionally acquired a 100% equity interest in Northwest Parkway from Brisa, a Portuguese toll-road operator.
Northwest Parkway has 90 years left on its 99-year concession to operate and maintain a 14km section of the beltway system extending around Denver. The road, which opened in 2003, has strong traffic history and connects with several toll and non-toll highways, including E-470, I-25, US 36 and US 287, providing convenient access to residential and commercial centres in the region. Revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.
“Northwest Parkway represents an excellent investment opportunity for our investors. The asset offers exciting potential due to the strength of Denver’s economic and demographic factors,” said George Zakem, managing director and co-head of Northleaf’s infrastructure team. “Infrastructure assets such as Northwest Parkway that provide long-term exposure to US GDP growth, alongside like-minded investment partners, are a key focus of Northleaf’s investment strategy.”
Completion is subject to a limited number of conditions and is expected in the first half of 2017.
Northleaf Capital Partners
Northleaf Capital Partners is a leading independent global private equity, infrastructure and private credit manager, with $9 billion in commitments under management on behalf of public, corporate and multi-employer pension plans, university endowments, foundations, financial institutions and family offices. Northleaf’s global infrastructure program pursues direct investments in mature, conservatively-positioned infrastructure assets in developed markets.
Northleaf’s 85-person team, located in Toronto, London, Chicago, and Menlo Park, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf currently manages six global private equity funds, a specialist private equity secondary fund, two infrastructure funds, a private credit fund and a series of customized investment mandates tailored to meet the specific needs of institutional investors and family offices. For more information on Northleaf, please visit www.northleafcapital.com.
For further information, please contact:
+1 416 477 6165
+1 416 477 6509
Photo courtesy of Brisa