Allianz Global Investors has invested $300 million on behalf of its clients into the Pocahontas Parkway concession. Pocahontas Parkway is an 8.8-mile toll road in Virginia with an 89-year concession.
Pocahontas Parkway is a cash and fully electronic toll road with an elevated bridge crossing the James River. Globalvia has an 89-year term on the concession, which is located southeast of Richmond, Va., and the 895 toll plaza links Interstate 95 at Chippenham Parkway (Route 150) with Interstate 295 to create a southern bypass of the city. It is the only crossing of the James River for six miles in either direction.
AllianzGI has been a provider of institutional infrastructure debt solutions to the European market since 2013 and entered the U.S. market in 2015.
The AllianzGI infrastructure debt platform has made more than $2.2 billion of investment commitments to infrastructure assets in the United States over a period of 18 months, with more expected to follow.
AllianzGI’s U.S infrastructure portfolio has several large infrastructure investments, including the $700 million acquisition stage investment in the Indiana Toll Road in May 2015. Subsequent investments include Chicago Skyway, the Long Beach Civic Center P3 project and Grande Prairie Wind.