CPP Investments and Ontario Municipal Employees Retirement System (OMERS) are planning to invest over Rs 43 billion ($526 million) in IndInfravit, an Indian infrastructure investment trust (InvIT) majority owned by them.
This funding is linked to IndInfravit’s acquisition of a portfolio of five Indian road assets from Brookfield valued at $1.2 billion. The Brookfield portfolio consists of three toll road projects and two annuity projects, spanning around 2,400 lane km across states.
The deal is expected to close soon, and the funds will be used to finance the acquisition, repay part of the debts, and for capital expenses.