New owner pledges long-term viability plan for M6 Toll

The new owner of the M6 Toll has said it intends to operate the motorway responsibly to ensure its long-term viability.

IFM Investors, the pension fund owned global investment manager, has acquired a controlling majority stake in the outstanding commercial debt of the pay-to-drive facility.

While not disclosing terms, the deal grants it effective control of the asset. The deal includes the 37 years left on the original 52-year concession agreement.

Christian Seymour, Head of Infrastructure, Europe at IFM Investors, said IFM had a detailed plan to ensure a smooth transition for all stakeholders, including employees, creditors, local communities and government.

“M6 Toll has an essential role to play in easing congestion at the heart of the UK motorway network, and we recognise its importance to the community and for commercial users.

“As a long-term investor investing on behalf of pension funds, including UK local authority pension schemes, we will be focused on operating M6 Toll responsibly and ensuring its long-term viability.”

He said the 27-mile route, which opened in 2003, complemented its existing portfolio of toll road and other infrastructure investments – which includes Manchester Airport.

“We bring significant knowledge from being a hands-on owner of toll roads for over 15 years, in which time we’ve delivered substantial benefit and value to these individual assets and the communities they serve. Under our stewardship, we believe M6 Toll can provide stable and secure returns for our pension fund investors over many years,” added Mr Seymour.

IFM Investors was a pioneer in infrastructure investment over 20 years ago, and now manages over £22bn in infrastructure on behalf of more than 175 institutional investors, including UK pension funds.