IFM Investors acquires M6 Toll Road Concession

IFM Investors, the pension fund owned global investment manager, has acquired a controlling majority stake in the outstanding commercial debt of the UK’s M6toll road ("M6toll" or "the Company"), granting it effective control of the asset.

Christian Seymour, Head of Infrastructure, Europe at IFM Investors, commented:

"M6toll has an essential role to play in easing congestion at the heart of the UK motorway network, and we recognise its importance to the community and for commercial users. As a long-term investor investing on behalf of pension funds, including UK local authority pension schemes, we will be focused on operating M6toll responsibly and ensuring its long-term viability.

"M6toll complements our existing portfolio of toll road and other infrastructure investments. We bring significant knowledge from being a hands-on owner of toll roads for over 15 years, in which time we’ve delivered substantial benefit and value to these individual assets and the communities they serve. Under our stewardship, we believe M6toll can provide stable and secure returns for our pension fund investors over many years."

M6toll is a 43km dual three-lane tolled motorway near Birmingham in the West Midlands, England. Located within the key traffic corridor that links the South-East to the North-West of the UK, it provides an alternative route to one of the main and busiest motorways in the UK. It is the only privately-owned and user-tolled road in the UK, serving predominantly long distance through-traffic and light vehicles. The motorway has a remaining concession life of 37 years.

IFM Investors has a detailed plan to ensure a smooth transition for all stakeholders, including employees, creditors, local communities and government.

IFM Investors was a pioneer in infrastructure investment over 20 years ago, and now manages over £22 billion1 in infrastructure on behalf of more than 175 institutional investors, including UK pension funds.

Details of the transaction remain confidential.

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Notes to editors:

M6toll will be the fifth toll road in IFM Investors’ global infrastructure equity portfolio. IFM Investors holds interests in two toll roads in Australia, the M1 (Eastern Distributor) and M5 (Interlink) toll roads. In 2015, it acquired a 24.99% stake in OPI (the unlisted holding company of Conmex, the operator of a toll road outside of Mexico City) and acquired 100% of the equity in ITR Concession Company, LLC (ITRCC), which operates the Indiana Toll Road.

IFM Investors has infrastructure equity stakes in six assets in Europe, including a 35.5% stake in Manchester Airports Group, the largest UK-owned airport operator. It invests on behalf of like-minded institutions globally, including pension funds, insurers, endowments, foundations and universities.

Contact: Phillippa Cantrill FTI Consulting +44 (0)203 727 1084 Phillippa.cantrill@fticonsulting.com

About IFM Investors:

IFM Investors is a uniquely-structured global fund manager with A$86bn under management as of 30 April 2017. Established over 20 years ago and owned by 28 major pension funds, IFM Investors’ interests are deeply aligned with those of its investors. Investment teams in Europe, North America, and Australia manage institutional strategies across infrastructure (equity and debt), debt investments, listed equities and private capital. IFM Investors is committed to the United Nations supported Principles for Responsible Investment and has been a signatory since 2008. IFM Investors has offices in seven locations; Melbourne, Sydney, New York, London, Berlin, Tokyo and Hong Kong. For more information please visit www.ifminvestors.com.

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