AMP Capital invests in India's infrastructure
AMP Capital has announced it will make its first infrastructure debt investment in India by investing US$73 million in listed road infrastructure company Sadbhav Infrastructure.
The funding, which would be carried out on a private placement basis, would aim to assist the firm to fund the completion of an existing portfolio of road assets across India and mark the first investment in India for AMP Capital’s recently established Infrastructure Debt Asia strategy.
The strategy would be expected to benefit from a combined significant infrastructure pipeline with supportive regulatory and government initiatives, aimed to encourage more involvement of private investors, AMP Capital said in the announcement.
“India offers attractive opportunities for our Infrastructure Debt Asia strategy, combining a significant infrastructure pipeline with increasingly supportive regulatory and government initiatives to encourage greater involvement of private investors,” Simon La Greca, head of infrastructure debt Asia at AMP Capital said.
“We look forward to investing further with high quality and experienced sponsors across the infrastructure sector in India.”
Sadbhav Infrastructure was a road company specialising in the development, operation and maintenance of highways, roads and related projects, with its current road portfolio comprising the development of nine Hybrid Annuity Model road projects located across India, and currently operating four toll road projects located in Maharashtra, Harayana and Gujarat.
AMP Capital, which said it would continue to consider infrastructure investment opportunities in India, formed a partnership in December 2020 with Sterlite Power for the development of energy transmission projects.
AUTHOR
Oksana Patron
Recommended for you
Australian and New Zealand sustainable funds saw outflows of more than $1.2 billion in the second quarter of 2024, according to Morningstar, with active strategies accounting for the majority.
Maple-Brown Abbott has finalised an agreement to be acquired by a rival fund manager to create a firm with $18.6 billion in assets under management, just two months after its former CEO exited to lead Magellan.
Following a strategic review, Platinum has announced it will merge its two listed investment companies with two of its quoted managed hedge funds.
With potential US interest rate cuts on the horizon, Income Asset Management believes now is an ideal time to be investing into the corporate bond market.
