News release Indiana Toll Road

IFM Investors partners with CDPQ on the Indiana Toll Road

Infrastructure New York and Montréal,

IFM Investors (“IFM”) and Caisse de dépôt et placement du Québec (“CDPQ”), a global investment group, are pleased to announce that CDPQ has acquired a 15% interest in the Indiana Toll Road (“ITR”) from a subsidiary of the IFM Global Infrastructure Fund (“IFM GIF”). Following completion of the sale, IFM GIF continues to own more than 70% of ITR.

The Indiana Toll Road is a 157-mile (252 km), limited access, divided highway in the state of Indiana which is operated and maintained under a Concession and Lease Agreement with the Indiana Finance Authority (“IFA”). The road spans northern Indiana, from its border with Ohio to the Illinois state line near Chicago, feeding directly into two toll roads at the state lines – the Chicago Skyway in the west and the Ohio Turnpike in the east. Since IFM’s acquisition in 2015, ITR has successfully undergone the largest capital improvements to its roadway and structures since its original construction (Project “PUSH” or “Pavement Upgrade for a Superior Highway”). The Concession and Lease Agreement grants the concessionaire the exclusive right to collect toll and other revenues from the toll road for the next 60 years. 

CDPQ and IFM Investors share similar objectives, having invested together across geographies in sectors such as ports, roads and energy.

“The success of this transaction demonstrates the high-quality nature of the ITR and the significant value adding initiatives that IFM Investors has undertaken since acquisition of the asset in 2015. We are delighted to welcome CDPQ, another like-minded, long-term partner into this key piece of U.S. infrastructure,” said Kyle Mangini, Global Head of Infrastructure at IFM Investors.

“ITR is a critical channel for the flow of goods in the United States whose resilience and importance for the logistics industry have been demonstrated in recent months. It will be as essential as ever as the economic recovery takes off,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “We are delighted to once again team up with a business partner of IFM’s caliber to ensure the success of this high-quality asset.”


About IFM Investors

IFM Investors was established more than 25 years ago with the aim to protect and grow the long-term retirement savings of working people. Owned by a group of Australian pension funds, the organization has US$116bn under management as of 31 December 2020. Because IFM is owned by industry pension funds, we seek to prioritize the interests of more than 510 like-minded investors worldwide by focusing on assets that combine excellent long-term risk/reward characteristics with broad economic and social benefits to the community. As a signatory to The United Nations-supported Principles for Responsible Investment, IFM actively engages on ESG issues with the companies in which we invest with the aim of enhancing their net performance while minimizing investment risk. Operating globally from offices in Melbourne, Sydney, London, Berlin, Zurich, New York, Hong Kong, Seoul and Tokyo, IFM manages investments across infrastructure, debt, listed equities and private equity assets. For more information, visit

About CDPQ

At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2020, CDPQ’s net assets total CAD 365.5 billion. For more information, visit, follow us on Twitter or consult our Facebook or LinkedIn pages.

- 30 -

For more information