OMERS acquires ACP's 13.5% stake in Interise Trust, increasing its holding to 34.8% in the roads sector
OMERS has agreed to acquire Allianz Capital Partners’ (ACP) 13.5 percent stake in Interise Trust, an Indian Infrastructure Investment Trust (InvIT) in the roads sector.
This deal will boost OMERS' holding in the trust from 21.3 percent to 34.8 percent. CPPIB remains the largest investor, while the remaining shares are held by domestic investors. The financial terms of the transaction have not been disclosed.
Since 2019, OMERS has been invested in Interise Trust, previously known as IndInfravit Trust. The trust manages 17 operational road concessions across eight Indian states, covering approximately 7,300 lane kilometres. This portfolio includes 14 toll roads and three annuity roads.
The National Highways Authority of India (NHAI) has regularly recognized these projects with awards for Excellence in Operations & Maintenance, Toll Management, Innovation, and Best Project Management.
Michael Hill, executive vice president and global head of OMERS Infrastructure, stated, “We are excited to be able to increase our stake in Interise and continue our partnership with CPPIB in this attractive sector.”
“This transaction is our second in the transportation sector in six weeks, following our signing an agreement to acquire Italy’s Grandi Stazioni Retail in partnership with DWS last month.”
Christopher Curtain, head of Asia-Pacific for OMERS Infrastructure, emphasized how the investment aligns with their broader goals.
“The transaction aligns well with our Infrastructure investment strategy – it increases OMERS exposure to India’s economic growth, through an asset and sector that we know well, and in line with our approach to focus on large, resilient and yielding assets in our priority markets. We look forward to continuing to work with the Interise team as they manage critical road infrastructure across India.”
Transportation is one of OMERS Infrastructure’s three global focus areas, alongside digital and energy sectors.
Interise Trust joins OMERS’ 14 other transportation investments, including London City and Bengaluru (Bangalore) airports, Associated British Ports, Port of Melbourne, Direct ChassisLink Inc., VTG, and Grandi Stazioni Retail.
The deal is set to close by the end of the year, subject to regulatory approval and customary closing conditions.
