AMP Capital buys US infrastructure operator
AMP Capital has announced its largest ever acquisition in North America by acquiring 100 per cent of ITS ConGlobal (ITSC) from Carlyle Infrastructure Partners.
The firm said the acquisition was made on behalf of investors in AMP Capital’s global infrastructure equity platform, including the Global Infrastructure Fund, which reached final close late last year after raising US$2.4 billion from global investors.
ITSC, which is headquartered in Illinois and has operates in the US, Mexico and Costa Rica, is one of the North America’s largest operators of intermodal railroad and auto terminals, container yard depots, and provider of intermodal equipment maintenance and repair services, the company said.
AMP Capital’s head of Americas infrastructure equity, Dylan Foo, said: “This deal marks an acceleration of our North American growth strategy and also reflects the momentum in our global growth ambitions.
“We have long seen the potential in North America and have had investments and a presence in the region for a number of years.
“It is a market that is developing quickly when it comes to infrastructure investment from both a client and a deal perspective, with growing potential to invest in great infrastructure companies such as ITSC and to participate in the development of the sector in North America, particularly the US, more broadly.”
AUTHOR
Oksana Patron
Recommended for you
Investment solution provider Channel Capital has appointed James Archer as its latest distribution director, joining from Pinnacle Investment Management.
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
