Fund announcement

Ashmore Colombia’s Concesión Ruta Bogotá Norte reaches financial close on USD 381 million debt facility

Ashmore Colombia, a subsidiary of Ashmore Group plc, today announces that Concesión Ruta Bogotá Norte (“CRBN”), sponsored by Ashmore Funds, collectively the majority shareholder, alongside Termotecnica (a Grupo Ethuss company) and OHLA, has reached financial close on a COP 1,220 billion (USD 381 million) debt facility to fund construction and development of Bogotá’s key northern access corridor. The facility was secured through a syndicate of national and international lenders: Financiera de Desarrollo Nacional (FDN, 50%), J.P. Morgan (25%) and MUFG (25%).

Awarded by Colombia’s National Infrastructure Agency (ANI), the concession runs 18 kilometres along the Autopista Norte, Carrera Séptima and the Perimetral de Sopó bypass, linking Bogotá to Chía, Cajicá, Zipaquirá and Tocancipá. It already carries Colombia’s highest-traffic toll, with 14.4 million vehicles a year, and Unica (a Grupo Ethuss company) and OHLA are jointly delivering the EPC construction contract.

The design also builds in environmental and social measures: a restored hydrological link between the Torca and Guaymaral wetlands that lifts hydraulic capacity by 419% and cuts a long-standing flood risk. Seven wildlife crossings protect the area’s flora and fauna. During construction, the project should create more than 36,000 direct and indirect jobs and, once finished, improve journeys for over 10 million people. The project will use 6,500 tyres reused in the pavement and has built new cycling and pedestrian routes.

The transaction was led for Ashmore by its Ashmore III funds, Ashmore Andean Fund III, LP and Fondo Ashmore Andino III – FCP, and a team led by Juan Pablo Rozo, Head of Portfolio Management at Ashmore Colombia, and Jaime Pedroza, Vice President. Ashmore Colombia, which manages US$3,028 million as of 30 June 2026 in client assets across Private Equity, Infrastructure Debt and local active long-only Public Equity funds, continues to build its infrastructure portfolio across the region.

 

Juan Pablo Fonseca, CEO at Ashmore Colombia, said:

“This financial close marks a significant milestone for one of Bogotá’s busiest transport corridors. It reflects the confidence our lending partners have placed in the project, and in Ashmore’s ability to deliver infrastructure that works for investors and the communities it serves. We are also glad that the design restores local wetlands and protects wildlife along the route, and we look forward to working with Grupo Ethuss and OHLA as construction gets under way.”

 

ENDS

 

About Ashmore Colombia

Ashmore Colombia is an asset manager founded in 2009, with offices in Bogotá and Lima, investing across Colombia, Peru, and selectively in Central America. Leveraging one of the largest on-the-ground teams in the region, Ashmore Colombia draws on decades of experience on infrastructure transactions throughout Latin America. Ashmore Colombia is part of Ashmore Group plc’s network of local asset management offices. Ashmore Group plc, a UK-based investment manager specialising in Emerging Markets and listed on the London Stock Exchange (LON:ASHM), with more than 30 years of experience and $54.0 billion in assets under management (as of 30 June 2026).

For more information, please contact:

Cardew Group, PR Advisers
Ashmore@cardewgroup.com
+44 207 766 1212

Luke Bramwell
luke.bramwell@cardewgroup.com
+44 7467 992924

Diana Carolina Roa
Investor Relations Manager
Diana.roa@ashmoregroup.com.co