CDPQ plans to lift $300-400 million (about ‘3,450 crore) by the most recent spherical of fundraising and has employed Rothschild to run the mandate, they stated.
The Public Sector Pension Funding Board (PSP Investments), one of many largest pension buyers in Canada, is one other contender for the minority stake in Maple Infrastructure Belief, and is engaged in discussions, ET had reported earlier.
AIMCo, which has belongings beneath administration of $130 billion, has already made a ‘570 crore funding in Indigrid, a KKR-backed India energy infrastructure belief.
It invests globally on behalf of pension, endowment, insurance coverage and authorities funds within the Province of Alberta. AIMCo’s Infrastructure & Renewable Assets workforce manages a world portfolio of greater than $20 billion. Its notable investments embody Howard Power, sPower, London Metropolis Airport, Puget Power and Forestry Funding Belief.
Final 12 months, AIMCo had determined to close its new places of work in Singapore and New York as a part of its value slicing globally.
Maple Infrastructure Belief has an enterprise worth of about ‘16,000 crore (about $2 billion). The corporate plans to make use of the contemporary funds to finance its current acquisition of the toll highway belongings of Ashoka Concessions.
In October final 12 months, Maple Infrastructure Belief had acquired 5 build-operate-transfer (BOT) toll highway belongings of Ashoka Concessions, a subsidiary of highways builder Ashoka Buildcon. The belongings had been acquired at an combination enterprise worth of ‘5,718 crore.
Maple InvIT reported revenue of ‘773 crore for 2023-24.
In Maple InvIT, CDPQ Infrastructure Asia III Inc holds 60% stake, Maple Highways Pte holds 15%, 360 One Group (previously IIFL) holds 18.3%, Fami Strei, a household workplace automobile of Taparia household, the founding household of contraceptive maker Famy Care, holds 3.1% and others, together with the household workplace of Uday Kotak, maintain 3.6% stake as of September 2024.
Queries emailed to CDPQ and AIMCo didn’t elicit any response until press time on Monday.
Maple Highways, CDPQ’s platform for the roads sector in India, is the sponsor of Maple Infrastructure Belief, which homes seven belongings together with NCR Japanese Peripheral Expressway (NEPEPL) within the Nationwide Capital Area (NCR) beneath ToT7, and Shree Jagannath Expressways (SJEPL) in Odisha.
The asset portfolio is unfold throughout varied states, Odisha, Haryana and Uttar Pradesh, stated a current ICRA report. NEPEPL, a six-lane vast expressway passing by Haryana and Uttar Pradesh, is the biggest asset within the InvIT, accounting for 76% of money circulation obtainable for debt servicing and 75% of the enterprise worth at InvIT stage, it stated.
SJEPL, a six-lane expressway in Odisha, is a part of the Golden Quadrilateral connecting the Chennai-Kolkata hall.