Michael McKiernan
The Canada Pension Plan Investment Board is boosting its interest in Indian infrastructure conglomerate IndInfravit Trust, after agreeing to pay $173 million for an additional 15.9 per cent of the toll road operator.
The deal, which is scheduled for completion by the middle of May will take the CPPIB’s total stake in the investment trust to 43.8 per cent. Since its launch in 2018, IndInfravit’s has acquired 13 operational road concessions along critical national transportation corridors linking cities in the high-growth Indian states of Karnataka, Maharashtra, Rajasthan, Tamil Nadu and Telangana.
“Furthering our commitment to IndInfravit reflects our ongoing commitment to investment in India, as well as our ability to support IndInfravit’s future growth opportunities and enhances our ability to deliver solid long term, risk adjusted returns to CPP contributors and beneficiaries,” said Scott Lawrence, CPPIB’s managing director and head of infrastruc