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Tribeca Asset Management Fully Exits Bogota CargoCity (Colombia)

2 March 2015

(Press Release) Colombian private equity fund manager Tribeca Management Company, “Tribeca”, has fully exited Operador del Terminal de Carga Aeropuerto Internacional El Dorado, “OTCA”. OTCA was the exclusive operator of Bogota CargoCity, the air cargo terminal at El Dorado International Airport in Bogota.

The investment in OTCA returned US$56.5 million, resulting in an IRR of 22.9% for the project. Tribeca originally invested in OTCA in 2010 via FCP TCED (Infrastructure) – Fund II.

The air cargo terminal at El Dorado International Airport in Bogota is the largest facility in Latin America. In 2014, it processed over 400,000 tons of cargo, and over 73% of the air cargo transported in Colombia. It is also a central hub for more than ten airlines, major international cargo operators, and is an essential distribution channel for the country’s floriculture industry with exports of US$500 million annually.

Bogota CargoCity offers direct airside access, a dedicated aircraft ramp area, and 845,000 square feet (78,503 m2) of warehouse facilities, offices, and retail spaces.

The investment rationale forecasted at the beginning of the project has been fully realized and validates the benefits of infrastructure operation investments and the new era of economic growth for the Colombian export sector.