Investment management organization Canada Pension Plan Investment Board (CPP Investments) on Tuesday, committed to investing ₹1820 Crore ($219.1 million) in National Highways Infra Trust (NHIT) units, which is run under National Highways Authority of India (NHAI).
CPP Investments said this venture is a component of NHIT’s institutional placement capital raising. As part of the Government of India’s National Monetization Pipeline, the profits would be utilized to purchase seven brownfield toll roads, which are now owned by NHAI.
The company also added CPP Investments will maintain a 25% stake in NHIT, while its overall investment in NHIT will rise to ₹3680 Crore.
“This investment will continue to deliver high-quality infrastructure across India while generating strong risk-adjusted returns for the CPP Fund,” said James Bryce, Managing Director of CPP Investments.
CPP Investments and Redwood Trust, recently, entered into a $700 million strategic capital collaboration, which includes a newly formed $500 million asset joint venture and a $250 million corporate-secured credit facility provided by CPP Investments to Redwood.
NHIT also plays an important role in funding and administering infrastructure projects linked to national roads, which contributes to the development of India’s road industry.
Canada Pension Plan Investment is a financial service provider, founded in 1997 and the company is headquartered in Toronto, Canada. The firm is interested in investing in public equities, private equities, real estate, infrastructure, and fixed-income instruments.
At the point of conversion, $1 = ₹83.04
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