Alantra advises FCSC Concession Asset SPV on the sale of its stake in Pinhal Interior

Oct 2022

Sell-side advisory

Lisbon – Alantra, the global investment banking and asset management specialist, has advised the shareholders of FCSC Concession Asset SPV on the sale of its stake in Pinhal Interior to RiverRock Brownfield Infrastructure Fund. 

Pinhal Interior is a 93-kilometre motorway availability and inflation protected PPP road sub-concession whose main axes are the A13, which connects Tomar to Coimbra Sul, and A13-1, which connects Condeixa and A1. This sub-concession was awarded in 2010 and became operational in 2012. Ascendi, who is the main shareholder of the sub-concession, will continue to provide the management services of the road. 

RiverRock European Capital Partners LLP is an alternative asset management firm which invests in private markets and real assets. The company invests in core Euro-denominated Western Europe Infrastructure equity and focuses on operating Government-Related-Infrastructure assets, primarily those with availability-based and inflation-linked revenues. 

César Ciriza, Managing Partner at Alantra, commented on the deal: “It was a pleasure to support FCSC shareholders on this transaction, performed under challenging market and macroeconomics conditions. Pinhal Interior is an excellent transportation asset managed by a first-tier operator with inflation protection characteristics. Additionally, the availability payments mechanism provides visible long-term stable cash flows.” 

The Alantra Power and Infrastructure team led the process and managed to reach a successful closing in a challenging market environment, proving its capabilities in the European transportation infrastructure space.