Macquarie Asset Management’s Americas infrastructure fund is investing in Brazilian port terminal operator Corredor Logística e Infraestrutura (CLI).
Macquarie Infrastructure Partners V (MIP V) is investing an undisclosed amount to hold a 50% stake alongside CLI’s current owner, funds managed by private equity manager IG4 Capital.
In addition to its 50% voting stake, MIP V will also subscribe to new preferred shares issued by CLI.
MIP V’s investment will support CLI in its acquisition of an 80% control stake in Elevações Portuárias SA (EPSA) from Rumo SA.
EPSA, located in Santos, Brazil, is the largest bulk sugar and grain terminal in Brazil. Rumo, the largest railroad operator in Brazil, will remain as a 20% shareholder alongside CLI in EPSA.
Upon completion of the transaction, the combined CLI and EPSA entities will be the largest independent agriculture port terminals operator in Brazil.
“The partnership with IG4 and Rumo, via this investment in CLI, demonstrates our confidence in Brazil’s potential to maintain its leadership role in the export of essential food products,” said Fernando Lohmann, managing director at Macquarie and lead of Macquarie Asset Management in Brazil.
“I’m very proud to announce this new phase for CLI, which will grow from its current 4m tonnes of export shipping capacity to more than 20m tonnes,” said Hélcio Tokeshi, CEO of CLI.
Tokeshi said CLI was a fully independent terminal operator, providing high-quality services to customers in Itaqui, a standard which it would work to replicate in the newly acquired terminals in Santos.
Macquarie’ GIG invests in Galehead
Macquarie’s Green Investment Group (GIG) has invested an undisclosed sum in Galehead Development, a US-based renewable-energy development platform.
Since 2016 Galehead has developed and monetised 5GW of solar photovoltaic, wind and co-located storage projects and is developing an additional 4GW through existing joint development arrangements.
GIG’s investment will allow Galehead to advance a further 6GW of early to mid-stage renewable-energy projects, enter new markets and explore new commercial applications for its LandCommand technology platform.
“Our partnership enables us to expand GIG’s footprint in the US and marks the start of an exciting new phase in our work to accelerate the transition to net zero,” said Mark Dooley, global head of Green Investment Group.
Galehead CEO Matt Marino, said: “We are proud to continue the long tradition of GIG’s pioneering investments in the energy transition, and we are excited about working together to expand the Galehead platform.”
Patrick Martin, Galehead’s COO, said: “GIG’s capital commitment strengthens Galehead’s balance sheet, access to institutional resources and our internal capabilities for delivering transformative clean energy projects to our downstream partners.”
To read the latest edition of the latest IPE Real Assets magazine click here.
