Canada’s largest pension fund Canada Pension Plan Investment Board (CPP Investments) is acquiring an additional 15.9% of the total units in IndInfravit Trust, an infrastructure investment trust (InvIT), for ₹1,005 crore. IndInfravit, sponsored by L&T Infrastructure Development Projects Ltd (L&T IDPL), was launched in 2018 and it acquires and maintains stable brownfield road concessions in India. “The combined investment amount of the two transactions is C$173 million ( ₹1,005 crore)," the pension fund added. L&T IDPL will continue to act as a sponsor and its subsidiary will remain as the investment manager for IndInfravit. L&T IDPL and SIPL will continue as project managers for the portfolio, the pension fund’s statement added.

Source: Mint May 06, 2021 12:14 UTC