Infrastructure

Enhancing the Pocahontas Parkway

We utilized our industry expertise to put in a market leading bid, win the auction, negotiate a complete exit for the sellers, and facilitate the turnover with governmental authorities.

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Sector	Infrastructure
Sub-sector	Transport
Location	United States

Opportunity

Pocahontas Parkway is a 9 mile toll road in Richmond, VA. The company went through a financial restructuring that resulted in its lenders assuming ownership of the road. Prior to and through the transfer, the company’s performance suffered.

Approach

Due to the complex nature of the company’s history and structure, there were a range of issue to deal with relating to access to information, ownership and governance rights, among others.

Outcome

Over the next year, Macquarie implemented operational improvements to the road, and launched a sale process that resulted in Pocahontas being transferred to a natural permanent owner of the road. Our leadership helped the company improve its operations, led to a material return for our investment partners over the 15 month investment term, and facilitated the eventual transfer of the asset to a long-term custodian.

The Macquarie difference

We utilized our industry expertise to put in a market leading bid, win the auction, negotiate a complete exit for the sellers, and facilitate the turnover with governmental authorities. We completed the transaction by bringing in two partners and executing the transaction on an expedited timeline.

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Macquarie Capital

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