Actis to launch Latin America toll roads platform with acquisition of 416km Colombian portfolio
LUXEMBOURG, 10 June 2025: Actis, a leading growth markets investor in sustainable infrastructure, has entered into an agreement to acquire a portfolio of operational toll roads in Colombia from Sacyr with a total transaction value of US$1.6 billion. The investments will come from Actis’ Long Life Infrastructure Fund 2 (ALLIF2) and mark the launch of Actis’ first Latin American toll roads platform.
The portfolio, which totals 416km of roads, consists of three toll roads in Northern and Western Colombia. Actis will acquire 100% of the Pamplona-Cucuta toll road, a 123km road completed in November 2024; a controlling stake in the 112km strategic Rumichaca-Pasto highway completed in 2023 connecting Colombia with Ecuador; and a co-control stake in Autopista al Mar 1, a 181km toll road connecting Colombia’s second largest economic hub with the Caribbean coast that was completed in 2023. Actis will acquire 100% of Sacyr’s stake for all three assets, which each have long-term concessions running until the mid-2040s.
Colombia’s toll road sector, which benefits from a favourable regulatory framework, has been open to investors since the 1990s and is now on its fifth round of concessions with a track record of international investment. From a broader macroeconomic perspective, Colombia has demonstrated resilient growth and is one of the few OECD countries in Latin America.
The agreement to acquire this Colombian toll road portfolio builds on Actis’ roads investment programme in India, where since 2022 ALLIF1 and ALLIF2 have closed three transactions and signed another encompassing 10 operational roads (both Hybrid Annuity Model and toll road projects) worth close to US$1.2 billion of enterprise value.
Adrian Mucalov, Partner and Head of Long Life Infrastructure at Actis, commented: “The deployment of Actis’ Second Long Life Infrastructure Fund is gathering pace, with this announcement hot on the heels of closing new investments into the Brazilian power transmission platform, named Skyline, and the Indian renewables sector through Stride Climate Investments. This Colombian toll road portfolio will further diversify the fund, and invest into assets we see as having strong upside potential as well as the ability to deliver consistent, resilient annual returns for our investors.”
Davi Carvalho Mota, Partner, Long Life Infrastructure at Actis, said: “This investment once again underscores Actis’ commitment to Latin America and the opportunities we see in the region across sectors and in different markets. We think the Colombian toll road sector offers exciting opportunities and this portfolio provides value creation opportunities combined with downside protections, notably thanks to inflation indexation, currency protection, minimum traffic thresholds and long-term contracts. We believe it’s a great prospect.”
The transaction is subject to regulatory approvals and closing conditions.
ENDS
Disclaimer
The statements contained herein by Adrian Mucalov and Davi Carvalho Mota are as of 10 June 2025 and represent the views of Actis which is not research and should not be treated as research. Moreover, there is no assurance historical trends will continue. Historic market trends are not reliable indicators of actual future market behaviour or future performance of any particular investment which may differ materially and should not be relied upon as such. Nothing contained herein is intended to predict the performance of any investment. Latest deal updates are for discussion purposes only. They are not indicative of future results. Nothing herein constitutes a guarantee, projection or prediction. This investment opportunity and target equity figures are presented for informational purposes only and were selected to demonstrate the type of investments that Actis will seek to make. There can be no guarantee that transactions with similar characteristics will be available to Actis. Any case studies (or other selected transactions) herein are presented for informational purposes only and are intended to be illustrative of the types of investments that have been made by the fund and/or that may be made by the Actis funds in the future. Case studies and other selected transactions may not be representative of all transactions of a given type or of investments generally. Nothing herein should be considered a recommendation of any particular security, portfolio company, or transaction. There can be no assurance that any fund will be able to implement its investment strategy, achieve its investment objective, or avoid substantial losses. The strategies described herein may not be suitable for all investment goals. All investments carry a risk of loss. References to ‘downside protections’ seeks to mitigate risk but does not eliminate risk and does not protect against losses. In addition, certain investments described herein are unrealised and, unless otherwise stated, their valuations have been prepared internally by Actis and have not been audited. With respect to unrealised investments, all performance information is based upon a combination of actual realised proceeds received on such investments through the applicable date, and a hypothetical liquidation of such unrealised investments at the valuation as of such date.