Omers Infrastructure, a Canadian investment and asset management arm of pension fund Ontario Municipal Employees Retirement System, has bought a 22.4 percent stake in Indian infrastructure investment firm IndInfravit Trust for 870 crore rupees ($123 million).
Omers Infrastructure’s subsidiary, Omers Asia, said that the commitment provides an attractive entry point for the company into India alongside well-trusted partners.
IndInfravit's unitholders include Canada Pension Plan Investment Board, Allianz Capital Partners, L&T Infrastructure Development Projects and a few other institutional backers.
Omers Asia added that the transaction also represents an opportunity to deepen its relationships with IndInfravit's unitholders. Furthermore, the deal is consistent with Omers Asia’s strategy to diversify its portfolio and generate value for its plan members.