February 11, 2020 / 5:42 PM / 16 days ago

I Squared Capital buys Advent International stake in Colombia pipeline

BOGOTA, Feb 11 (Reuters) - Investment manager I Squared Capital on Tuesday acquired private equity firm Advent International’s stake in Colombia’s Ocensa crude oil pipeline from for an undisclosed sum, it said in a statement.

Advent International said separately it had sold its 22.4% stake in Oleoducto Central S.A. (Ocensa), which it has held since 2013.

Ocensa is the longest pipeline in Colombia. As well as spanning 836 kilometers (519 miles) over land and 12 kilometers by sea, it operates 10 pumping stations, a sea terminal and tanks that can store up to 5 million barrels of oil.

Advent International said the majority share in Ocensa will remain in the hands of Cenit, a subsidiary of the Andean country’s state-run oil producer, Ecopetrol.

I Squared Capital’s investment in the pipeline will reinforce its strategy of investing in high-growth emerging markets, managing partner Adil Rahmathulla said in a statement.

I Squared Capital is an independent investment manager with a focus on infrastructure in sectors including energy, public services, telecoms and transport in the Americas, Europe and Asia. (Reporting by Nelson Bocanegra Writing by Oliver Griffin; Editing by Lisa Shumaker)

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