Macquarie eyes up to $350 million stake in CDPQ’s Maple InvIT

Macquarie Asset Management is nearing a deal to acquire a significant stake in Maple Infrastructure Trust, a roads-focused infrastructure investment trust (InvIT) sponsored by CDPQ. The transaction could value the stake at up to $350 million. The InvIT owns a portfolio of seven road projects spanning over 920 km across states like Uttar Pradesh, Madhya Pradesh, Rajasthan, and Andhra Pradesh. These assets generate stable toll revenues under hybrid annuity mode (HAM) and toll-operate-transfer (TOT) models. The deal, expected to close soon, marks Macquarie’s renewed push into India’s infrastructure sector amid rising investor interest in InvITs for their predictable yields. CDPQ, which launched Maple in 2021 with assets worth Rs 83 billion, aims to recycle the capital for new opportunities.