Tribeca Asset Management exits Bogota CargoCity

The firm made $56.5 million on the sale

Colombian private equity fund manager, Tribeca Management Company has exited its interest in Operador del Terminal de Carga Aeropuerto Internacional El Dorado (OTCA) for $56.5 million.

OTCA is the exclusive operator of Bogota CargoCity, the air cargo terminal at El Dorado International Airport in Bogota. The terminal is the largest facility in Latin America, and is the central hub for more than ten airlines, international cargo operators, and the country’s floriculture industry.

Tribeca saw a 22.9 percent IRR On the deal, according to a statement. The firm declined to comment further on the transaction.

The firm originally invested in OTCA in 2010 from its FCP TCED (Infrastructure) -Fund II.

Tribeca is a $400 million growth equity firm based in Bogota, Colombia, investing in consumer, energy, healthcare, and infrastructure.

The firm is currently believed to be in market for its third fund which is targeting $400 million, according to Private Equity International’s research and analytics division.