The Ontario Municipal Employees Retirement System (Omers) has struck its first infrastructure investment deal in India with the acquisition of a 22.4% stake in IndInfravit Trust, which holds a portfolio of five operational toll road concessions.
The purchase by one of Canada’s largest defined benefit pension plans totalled $121 million (INR 8.7 billion). Omers said the roads are in some of India’s “most economically vibrant states and support the country’s growing economy”. The states include Tamil Nadu, Karnataka, Telangana and Rajasthan, according to IndInfrait’s website.
Ralph Berg, executive vice president and global head of Omers Infrastructure said the investment in India underlines its commitment to investing in the Asia Pacific region following it’s the opening of its Singapore office in 2018.
“Our investment in IndInfravit aligns with our strategy to diversify our portfolio and generate value for OMERS plan members. At the same time, we will participate in the expansion of the Indian economy by investing into crucial infrastructure,” added Berg.
Other investors include Canada Pension Plan Investment Board, Allianz Capital Partners, L&T IDPL and other institutional investors, Omers said in a statement.
Omers has more than $71.9 billion in net assets.
©2019 funds global asia 
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