Ashmore Colombia has reached successful close on a concession for construction and development of Ruta Bogota Norte, topping off at $381 million.

The project focuses on a key stretch of roadways and related infrastructure around the capital, drawing upon the firm's Colombia Fund III. The concession structure sees Ashmore Funds retain half ownership, with minority partners Termotecnica Coindustrial, part of Grupo Ethuss, and Ohla Colombia.

"This financial close marks a significant milestone for one of Bogotá's busiest transport corridors," says Ashmore Colombia CEO Juan Pablo Fonseca. "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."

UK-based Ashmore has a proud investment history in the country, including a team satellite in Colombia since 2007.