OMERS Infrastructure makes debut India deal with IndInfravit Trust stake buy


The infrastructure investment arm of Canadian pension giant OMERS has made its first investment in India by picking up a stake in IndInfravit Trust for INR8.7bn (C$160m).

IndInfravit holds a portfolio of five operational toll road concessions which were initially constructed and operated by a subsidiary of Larsen & Toubro.

The five roads operate in some of India’s most economically vibrant states and support the country’s growing economy, OMERS Infrastructure said.

OMERS Infrastructure will pick up a 22.4 per cent interest in IndInfravit through the deal.

Other stakeholders in the National Stock Exchange-listed and Bombay Stock Exchange-listed business include the Canada Pension Plan Investment Board, Allianz Capital Partners, L&T IDPL and other institutional investors.

Managing director Bruce Crane, who leads OMERS Infrastructure’s Asia efforts from Singapore, said, “IndInfravit is a well-managed, world-class core infrastructure asset. This investment provides an attractive entry point into India, one of the most dynamic markets globally, alongside well-trusted partners.

““We look forward to working constructively with the other unitholders, management and all local stakeholders to grow this platform in the coming years.”

OMERS Infrastructure global head Ralph Berg added, “The investment in IndInfravit marks not only our first infrastructure investment in India, but also demonstrates our commitment to investing in the Asia Pacific region following our office opening in Singapore in 2018.”

Copyright © 2019 AltAssets

Get the latest PE News & Research delivered to your inbox every morning