The Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan are reinvesting in an infrastructure trust sponsored by the National Highways Authority of India.
The CPPIB and the Ontario Teachers’ renewed their financial commitment to the infrastructure fund through a new capital raise, contributing $297 million and $298 million, respectively. The total respective investments from the CPPIB and the Ontario Teachers’ stand at $614 million and $606 million.
Read: CPPIB investing through India infrastructure fund
“Our follow-on investment in [the trust] 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 and head of infrastructure at the CPPIB, in a press release.
In a separate release, Debapratim Hajara, managing director of infrastructure and natural resources Asia-Pacific at the Ontario Teachers’, said the new capital represents the investment organization’s ongoing interest in high-quality road assets in India. “The country’s road ecosystem is an important driver in supporting India’s economic growth and we are delighted to continue our partnership with the NHAI.”