Macquarie AM, IG4 Capital to realise over $1bn in global transaction

Macquarie Asset Management (MAM) and Brazilian private equity firm IG4 Capital will offload their ownership in a port and logistics operator in a transaction valued at $1.16 billion (US$835m).

The transaction will be processed through MAM's Macquarie Infrastructure Partners V and IG4's Private Equity Fund II, transferring their stake in Corredor Logística e Infraestrutura (CLI) to the AD Ports Group.

CLI is an independent port and logistics operator in Brazil, owned by IG4 initially, and entered a joint ownership following a major capital investment by Macquarie in 2022. Since then, the company has expanded it footprint and enhanced efficiency and its position within the nation's infrastructure, MAM said.

The deal remains subject to customary closing conditions, including regulatory and antitrust approvals.

Commenting, head of Macquarie Asset Management, Brazil Fernando Lohmann said Brazil continues to offer exciting opportunities across various sectors.

"Brazil's agricultural export sector continues to demonstrate remarkable resilience, reinforcing the country's position as one of the world's leading suppliers of agricultural commodities," Lohmann said.

"As a long-term investor in the country, Macquarie remains committed to acting as a responsible custodian of essential infrastructure assets that help drive economic development, improve connectivity and support Brazil's role in global trade."

The transaction follows MAM's acquisition of a Brazilian toll road portfolio platform in May last year.

Meanwhile, CLI's management will remain unchanged, with Gabriel Motta continuing as chief executive.

"The outlook for CLI is highly favourable. We are strategically positioned in the Northern Arch, with the operation of the terminal at the port of Itaqui, in addition to the terminal at the port of Santos," Motta said.

"Both have been showing consistent performance and with clear potential to evolve even more. The cycle with IG4 and Macquarie was extremely relevant, laying solid foundations for the new phase that begins. We remain confident in our ability to grow consistently and safely in the coming years."

Meantime, the transaction marks AD Ports Group's entry into the Brazilian market and is expected to support CLI's next phase of growth, leveraging its global platform and experience.

AD Ports Group managing director and chief executive Mohamed Juma Al Shamisi said: "The purchase of CLI is a game changer for AD Ports Group. The transaction extends our Group's international reach for the first time into Latin America, and deepens our growing agrifoods activities, one of our core verticals."

"Under the wise guidance of our leadership in the United Arab Emirates, AD Ports Group is committed to enabling trade in one of the world's most-important, fastest-growing agricultural commodities markets, which will not only benefit the group's global clients, including those in Brazil, but also strengthen the AD Ports Group global network."