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@AdventInt Seeking $600M Exit From Brazil's No. 2 Container Terminal TCP

@AdventInt Seeking $600M Exit From Brazil's No. 2 Container Terminal TCP

Bloomberg reported. TCP was founded in 1998 after winning the container terminal bid for the Paranaguá Port conducted by the State of Paraná. TCP is currently one of the most productive container terminals in Brazil, allowing the shortest vessel port turnaround time. TCP currently is capable of handling 1.5 million TEUs per year, has about 320 thousand square meters of warehousing area and an 879-meters quay wall with up to 3 berths. In April this year, TCP had its concession renewed early by 25 years after the Brazilian government approved TCP’s R$1.1bn (US$310m) investment plan. The Secretaria de Portos granted the contract renewal, beginning in 2023. During the first phase of the project, which is scheduled to be completed by the end of 2018, R$540m (US$154m) will be invested to expand the facility in Paraná state in southern Brazil, said Container Management magazine. In addition, TCP also committed to investing R$550m (US$154m) over the next 35 years. The expansion will include extending the pier by 220 m to 1,100 m in quay length, the construction of dolphin structures to be used exclusively for the operation of vehicle carrier vessels, and the enlargement of the terminal’s yard area from 320,000 sq m to 500,000 sq m by 2018. By 2019, TCP is expected to increase its handling capacity by 67% from 1.5m teu to 2.5m teu per year. Advent International has invested in more than 300 private equity transactions in 40 countries and, as of March 31, 2016 has €37 billion in assets under management. Advent was founded in Boston, Massachusetts in 1984, as a spin-out from TA Associates by Peter Brooke. Brooke had founded TA Associates in 1968 after having expanded the venture capital operations of TA’s parent Tucker Anthony & R.L. Day. With offices on four continents, the firm has established a team of over 170 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom.]]>

@Oaktree's Highstar Capital Seeks $1B Exit for Ports America, Hires @RBC Capital

@Oaktree's Highstar Capital Seeks $1B Exit for Ports America, Hires @RBC Capital

Bloomberg reported. On February 1, 2016, Outer Harbor Terminal LLC, formerly known as Ports America Outer Harbor, a joint venture between Ports America and Mediterranean Shipping Co.’s Terminal Investment Ltd., which operates one of the largest container terminals in the Port of Oakland, California, filed for Chapter 11 bankruptcy, two weeks after announcing its withdrawal from the port. The Port of Oakland oversees the Oakland seaport, Oakland International Airport, and 20 miles of waterfront. Iselin, N.J.-based Ports America handles all types of cargo, including container, bulk, breakbulk, automotive, project, military and cruise, typically handling 13.4 million TEU, 2.5 million vehicles, 10.1 million tons of general cargo and 1.7 million cruise ship passengers annually. Highstar’s investment in Ports America since 2007 includes three acquisitions: Ports America Inc., MTC Holdings, Inc. and Ports America Cheseapeake LLC. ports_americaPorts America Inc. is the largest independent maritime terminal operator on the US Atlantic and Gulf Coasts. Ports America handles containerized cargo, roll-on/roll-off cargo, cruise line passengers and general cargo at 23 locations. MTC Holdings provides independent marine terminal operations to container shipping companies, roll-on/roll-off shippers, and general cargo and stevedoring services at 32 locations at key strategic ports principally on the west coast of the United States. Ports America Chesapeake LLC was awarded a 50-year concession to upgrade and operate the Seagirt Marine Terminal in the Port of Baltimore, Maryland. Since 2000, Highstar’s team has invested approximately $7.8 billion on behalf of its managed funds and co-investors in a number of significant, high value-added, diversified infrastructure investments in fields including: power generation, water and waste water, natural gas transmission and storage, waste management, waste-to-energy, transportation logistics, intermodal transport, and port concessions and operations. Highstar was spun off insurance giant AIG, after the global financial crisis of 2009. In June 2014, Highstar was acquired by Oaktree Capital Management LP, a leading global alternative investment management firm with expertise in credit strategies and distressed debt. Oaktree was founded in 1995 and is headquartered in Los Angeles, with offices in London, New York, Hong Kong, Stamford, Houston, Tokyo, Luxembourg, Paris, Frankfurt, Singapore, Seoul, Beijing, Amsterdam, Dublin, Dubai, Shanghai and Sydney. The firm has over 900 employees, and $97 billion in assets under management as of March 2016.]]>