Ullico is nearing completion of its first toll-road investment, following a referral from the Royal Bank of Canada and approval from an adviser.
The acquisition consists of a minority interest in Metropistas, an operating toll-road concessionaire in Puerto Rico. With the investment, Ullico will enter into a 42-year operating concession with Metropistas.
'With Ullico, the notable feat is that this transaction achieved financial close during the peak month for COVID-19 in March after a period when hardly any traffic showed up on the toll roads,” said Yuval Cohen from Ullico’s adviser, Jacobs' Strategic Consulting group. “Our work informed them on the long-term dynamics of roads that have experienced rapid declines right now but likely to emerge stronger after the inevitable recovery.”
Ullico Infrastructure Fund currently has investments in the water, wastewater, electricity transmission, power generation, transportation and gas transmission sectors and is
