Tribeca exits OTCA

Tribeca Management Company has exited its stake in Operador del Terminal de Carga Aeropuerto Internacional El Dorado for $56.5 million. OTCA is the operator of Bogota CargoCity, the air cargo terminal at El Dorado International Airport in Bogota, Columbia.

PRESS RELEASE

2nd March, 2015 – Colombian private equity fund manager Tribeca Management Company, “Tribeca”, has fully exited Operador del Terminal de Carga Aeropuerto Internacional El Dorado, “OTCA”. OTCA was the exclusive operator of Bogota CargoCity, the air cargo terminal at El Dorado International Airport in Bogota.

The investment in OTCA returned US$56.5 million, resulting in an IRR of 22.9% for the project. Tribeca originally invested in OTCA in 2010 via FCP TCED (Infrastructure).

The air cargo terminal at El Dorado International Airport in Bogota is the largest facility in Latin America. In 2014, it processed over 400,000 tons of cargo, and over 73% of the air cargo transported in Colombia. It is also a central hub for more than ten airlines, major international cargo operators, and is an essential distribution channel for the country’s floriculture industry with exports of US$500 million annually.
Bogota CargoCity offers direct airside access, a dedicated aircraft ramp area, and 845,000 square feet (78,503 m2) of warehouse facilities, offices, and retail spaces.

The investment rationale forecasted at the beginning of the project has been fully realized and validates the benefits of infrastructure operation investments and the new era of economic growth for the Colombian export sector.

About Tribeca
Founded in 2006, Tribeca is a growth equity PE fund manager headquartered in Bogota with approximately U$ 400 million in assets under management. It manages 13 portfolio companies in the infrastructure operations, healthcare, natural resources/energy, and consumer goods sectors. Tribeca is a leading Colombian private equity fund manager with a regional investment approach through industry specific platforms. It is supported by leading international institutional investors and continues to identify growth opportunities in Colombia and throughout Latin America.