OMERS invests over $120 million in IndInfravit Trust

The Ontario Municipal Employees’ Retirement System (OMERS) is investing over Rs 10 billion ($122 million) in the IndInfravit Trust, an in­fra­structure investment trust (InvIT) that it initially backed in 2019. The pension fund initially invested Rs 8.7 billion ($122 million) in the InvIT to acquire a 22.4 per cent stake. The recent transaction has doubled OMERS’ total investment in IndInfravit and increased its ownership interest to approximately 21 per cent. CPP Investments, its larger peer, is contributing Rs 33.2 billion, which is a decrease from its original in­vestment plan of ar­ound Rs 43 billion. However, OMERS is providing the remaining amount. Following the fresh investment, CPP Invest­me­nts’ ownership interest in IndInfravit will increase to around 61 per cent. The stake of Allianz Capital Partners, a third investor, will decrease to ar­ound 13 per cent as the firm is not making any new investment in this round. Both OMERS and CPP Investments are making additional investments to assist IndInfravit in completing a deal to acquire five highway assets from another Canadian in­vestor, Brookfield.