Canadian Pension Funds Invests In Indian Roads

MUMBAI (ANI) – The Canada Pension Plan Investment Board (CPP Investments) has announced it will invest $297 million in the National Highways Authority of India (NHAI).  

The proceeds will be used to acquire seven brownfield toll roads, currently owned by NHAI, as part of Government of India’s National Monetisation Pipeline.

Following this investment, CPP Investments will continue to hold 25% of the units in NHIT. CPP Investments’ total investment in NHIT will increase to C$614 million.

“India remains a key market for CPP Investments and infrastructure is vital to the country’s economic growth. Our follow-on investment in NHIT deepens our commitment to this highly scalable platform, which has an important role to play in the continued expansion of the Indian road network,” said James Bryce, Managing Director, Head of Infrastructure, CPP Investments. “We are confident that this investment will continue to deliver high-quality infrastructure across India while generating strong risk-adjusted returns for the CPP Fund.”

Following the completion of this transaction, NHIT’s total portfolio will span over 1,500 kilometers across nine Indian states: Assam, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Telangana and West Bengal.

Canada Pension Plan Investment Board is a professional investment management organization that manages the Fund for more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently.