ConcludedGT-2024-038· Listed Apr 15, 2024
UAE–East Africa Port Concession
30-year concession over an East African deep-water container terminal — financial close USD 480M.
United Arab Emirates · Asia Ports & Maritime Infrastructure Concession — Concluded Closed Dec 20, 2024
Final Size
$480.0M
Allocated
$480.0M
Min Ticket
—
Target Return
Realised 14.8% equity IRR (Yr-1)
Horizon
30-yr concession
Executive Summary
Concluded transaction: GloTrade Capital structured and syndicated the equity tranche for a UAE-led consortium's acquisition of a 30-year concession over an East African deep-water container terminal. The asset is now operating at +27% throughput vs base case.
Use of Funds
Concession acquisition fee55%
Terminal upgrade capex35%
Reserve & WC10%
Financial Snapshot
Total transaction value
USD 480M
Deal Room equity placed
USD 84M / 9 LPs
Yr-1 realised IRR
14.8%
Yr-1 throughput vs plan
+27%
Transaction Structure
Closed transaction — performance reported quarterly to participating LPs.
Timeline & Milestones
- 2024 Q1Mandate awarded
- 2024 Q3Deal Room equity syndicated
- 2024 Q4Financial close
- 2025 Q4Yr-1 performance report — ahead of plan
Sponsor
Gulf Maritime Concessions PJSC
Gulf Maritime Concessions is a UAE-listed ports and terminals operator running 11 concessions across the Indian Ocean basin.
ESG & Impact
- Shore-power retrofit deployed
- Local hiring at 71%
- Sovereign revenue-share to host country
Data Room
Case Study
PDF · 10 pp
Yr-1 LP Report
PDF
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