The Ontario Municipal Employees Retirement System’s infrastructure arm is taking on a 22 per cent stake in IndInfravit Trust, an Indian-based infrastructure conglomerate, for $160 million.
IndInfravit, which owns and operates toll-road concessions, already counts the Canada Pension Plan Investment Board and Allianz Capital Partners as investors.
“IndInfravit is a well-managed, world-class core infrastructure asset,” said Bruce Crane, managing director and leader of OMERS Infrastructure’s Asian interests. “This investment provides an attractive entry point into India, one of the most dynamic markets globally, alongside well-trusted partners. We look forward to working constructively with other unit holders, management and local stakeholders to grow this platform in the coming years.”
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The investment marks OMERS’ first allocation to India and reaffirms its commitment to investing in the Asia-Pacific region, where it opened an office in Singapore in 2018, noted Ralph Berg, executive vice-president and global head of OMERS Infrastructure.
“Our investment in IndInfravit aligns with our strategy to diversify our portfolio and generate value for OMERS plan members. At the same time, we’ll participate in the expansion of the Indian economy by investing into crucial infrastructure.”