Northleaf profitably exits US toll road Northwest Parkway
Northleaf Capital Partners has signed an agreement to sell its 43.3% stake in Northwest Parkway (NWP), a Denver-based toll road project, to VINCI Highways, a subsidiary of VINCI Concessions in Denver, Colorado, USA.
NWP is a toll road spanning 9 miles in Denver, Colorado. Originally built in 2003 and operating through a 99-year concession agreement, NWP covers the northwest section of the Denver Metropolitan area beltway. Serving as a crucial link between Northwest Denver and Denver International Airport, the road has various functions. Northleaf Infrastructure Funds first acquired their ownership interest in NWP in 2017 and later augmented their ownership stake in 2023.
Closing of the transaction is subject to customary conditions and approvals and is expected to take place in Q2 2024. Northleaf was advised on the transaction by Evercore (financial), Kirkland & Ellis (legal), C&M (traffic & revenue), KPMG (tax & accounting) and Arup (technical).
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