UK infrastructure investor GLIL has acquired an indirect 25% interest in M6toll from a subsidiary of IFM Global Infrastructure Fund, which has been invested in the concessionaire since 2017 and will continue to indirectly own 75% of M6toll.
IFM is in the process of integrating M6toll into the global transportation infrastructure portfolio of Aleatica.
The 43km (26.7-mile) dual six-lane motorway near the English city of Birmingham functions as a congestion relief road for the publicly owned toll-free motorway M6 and nearby A5, A38 and A446 major roads.
Aleatica, founded in 2018, is a global operator and developer of transportation infrastructure assets headquartered in Madrid, Spain with annual revenues of around €810m and about 3,000 employees.
The company is wholly owned by the IFM Global Infrastructure Fund and operates as a transport infrastructure operator and manages 20 concessions – 16 highways, two ports, one light railway line and 1one airport – across seven countries in Europe and Latin America.
Joaquin Gago, Europe regional director at Aleatica, said: “We warmly welcome GLIL Infrastructure as our partner in this vital piece of UK infrastructure.
“As we seek to grow our portfolio of assets in Europe, we look forward to benefitting from the expertise of long-term infrastructure investors, such as IFM and GLIL, over the coming years as we support the extensive capital programme for M6toll to the benefit of all motorists.”
GLIL Infrastructure is a partnership of UK pension funds that invests in Britain’s renewable energy, water and ports, trains, hospitals and schools.
Lee Belfield, investment lead at GLIL Infrastructure, added: “We are delighted to form a partnership with IFM and Aleatica, two experienced infrastructure investors with proven sustainability credentials.
“For GLIL Investors, the M6toll offers long-term, asset-backed cash flows and further diversifies the portfolio into road infrastructure, an essential part of UK economic growth.”
You can learn more about the key trends and challenges affecting senior decision-makers who have responsibility for tolling, intelligent transportation systems and road pricing across the world at the 20th annual Road User Charging Conference in Brussels, Belgium on 07-08 March 2023. Click here for more information.