GRAND CAYMAN, Cayman Islands, July 21, 2021 (GLOBE NEWSWIRE) – Patria Investments Limited or “Patria” (PAX: NASDAQ) announces Malla Vial del Valle’s (Rutas del Valle) successful offering and completed Santa-Mocoa transfer. known -Neiva (Ruta al Sur), two toll road projects licensed by the Colombian National Infrastructure Agency (ANI) that will become the fourth and fifth toll roads managed by the Patria Infrastructure Fund, consolidating their sectoral position in Latin America. Patria Infrastructure Fund IV is providing up to $ 345 million for these two investments in Colombia.
The Rutas del Valle project is a concession for a 356 km long toll road network around the city of Cali (Colombia’s third largest city) and is the first project of the Colombian 5G Toll Road PPP program. The contract was won in a public auction in May and Patrias Infrastructure Fund IV will provide approximately $ 115 million in equity to the project. This brownfield investment offers an attractive risk-return profile due to a very stable regulatory and financing transparency, a known and reliable traffic flow and a relatively low investment obligation of almost 440 million US dollars over the next 5-6 years.
The Ruta al Sur project is a concession for a 484 km long toll road in southeast Colombia between the cities of Neiva and Santana (southern border near Ecuador). Patria acquired the project from the original sponsor through the PPP contract transfer. Over the next 4 years, Patria will undertake road improvement work valued at nearly $ 700 million and Patria Infrastructure IV’s involvement in this project is approximately $ 230 million. As part of the 4G concession program, Ruta al Sur has revenues based on government sponsored pensions and traffic guarantees, which is an attractive risk profile that complements Rutas del Valle.
In 2015, Patria started operations in Colombia, one of the key countries for its expansion in Latin America, where currently 25 professionals work between its investment and portfolio management teams. Patrias funds currently have 10 active investments in Colombia in a variety of sectors including healthcare, agriculture and infrastructure, which together have sales of approximately $ 484 million and nearly 8,000 employees. Patria is now one of the leading toll road operators in Latin America with around 3,500 kilometers covered in Brazil and Colombia.
About Patria Investments
Patria is a leading investment firm in Latin America’s growing private markets with over 30 years of history, more than $ 14 billion in assets under management and a global presence with 10 offices on 4 continents. Patria aims to deliver consistent returns on attractive long-term investment opportunities that enable portfolio diversification through its flagship private equity and infrastructure products, as well as its country-specific products such as real estate, loans and publicly traded stocks. Through its investments, Patria seeks to transform industries and remove bottlenecks in order to generate attractive returns for their investors while creating sustainable value for society. More information is available at https://www.patria.com/.
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