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10 October 2017
AMP Capital makes landmark deal in the US with ITS ConGlobal acquisition

AMP Capital has reached financial close on its  largest ever North American deal, acquiring 100 per cent of ITS ConGlobal  (ITSC) from Carlyle Infrastructure Partners.

ITSC is one of North America’s largest operators of  intermodal railroad and auto terminals, container yard depots, and provider of  intermodal equipment maintenance and repair services. The company has a long history of operational  excellence and a strong focus on safety and performance. It is headquartered in Darien, Illinois with  operations in 90 locations around the US and a significant presence across  Mexico and Costa Rica.

The company has been acquired on behalf of investors in AMP Capital’s global  infrastructure equity platform, including the Global Infrastructure Fund, which  reached final close late last year after raising US$2.4 billion from global  investors

AMP Capital Head of Americas Infrastructure Equity Dylan Foo said: “We have  long seen the potential in North America and have had investments and a  presence in the region for a number of years.  It is a market that is developing quickly when it comes to infrastructure  investment from both a client and a deal perspective, with growing potential to  invest in great infrastructure companies such as ITSC and to participate in the  development of the sector in North America, particularly the US, more broadly.

“This deal marks an acceleration of our North American growth strategy and also  reflects the momentum in our global growth ambitions. We’re thrilled to have been able to secure  this excellent asset for our investors and look forward to applying our  considerable expertise in rail and transportation to help grow the  company. AMP Capital’s strategy is one  of active asset management where we seek to partner with management teams to  leverage our global experience and industry knowledge to realise the full  potential of their companies.”

AMP Capital currently has more than 30 employees based in offices in New York,  Chicago and Orange County. Its US  infrastructure equity investments include Chicago’s Millennium Garages, the  largest underground parking system in the US, and Capistrano Wind Partners.

Mr Foo added: “We continue to look for great investments in the US and globally  on behalf of our investors. Our focus  remains on the middle market, which is where we see the greatest value and  opportunity. Sectors that we are  continuing to focus on in North America include transportation, energy and  communications where there is an exciting pipeline of deals.”

AMP Capital was advised by J.P. Morgan Securities LLC, ING Capital, KPMG and  Weil, Gotshal & Manges.