Mumbai, India
istock.com / anil_shakya19

CPP Investments has placed a third follow-on investment in units offered by National Highways Infra Trust (NHIT) in India. The pension giant added $346 million to its infrastructure investment which now totals $960 million.

“India remains a strategic focus for CPP Investments, with infrastructure such as toll roads playing a key role in driving the country’s rapid economic growth,” said James Bryce, managing director, head of infrastructure at CPP Investments. “Our continued investment in NHIT since its founding is a testament to our commitment to this robust platform.”

CPP Investments made its initial institutional placement in NHIT in 2021. According to a release, the new funds will go toward the acquisition of toll roads from the National Highways Authority of India.

—

The Australian profit-to-member superannuation fund has invested US$300 million in the global infrastructure investment manager I Squared Capital.

“We are seeing increasing demand for infrastructure financing as businesses invest in essential projects to support economic growth and the energy transition,” said Simon Esposito, interim co-CIO at Rest in a media release. “Coupled with the strong fundamentals of infrastructure credit markets, we believe this presents a compelling investment opportunity for our members.”

David Rosenblum, fund partner at I Squared Capital described Rest as a cornerstone investor. “The investment highlights the growing appetite for infrastructure debt opportunities among large and sophisticated LPs. We look forward to a long-term partnership that delivers strong, risk-adjusted returns for Rest’s members.”

—

Ravelin Properties REIT is making progress on its recapitalization plan.

G2S2 Capital Inc., a Beechville, N.S.-based multi-strategy investment company and a unitholder in the REIT, has acquired all of its indebtedness and obligations under the syndicated credit agreement from Ravelin Properties.

The aggregate principal amount is approximately C$233.1 million and US$43.7 million.

According to the Ravelin media release, RBC “is expected to” sell the indebtedness and obligations under bilateral loan agreements in the amount of approximately C$295.5 million to G2S2 on Mar. 31. RBC is a senior secured lender of the REIT. “We welcome the support of G2S2,” said Shant Poladian, CEO of Ravelin Properties REIT, “and look forward to working together on managing the REIT’s debt as we move forward with our strategic direction.”