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Caisse de Depot et Placement du Quebec, Canada’s second-largest pension manager, is investing 121 billion rupees (US$1.3 billion) in Brookfield Asset Management-backed Altius Telecom Infrastructure Trust, which operates more than 258,000 telecom towers in India.
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La Caisse will acquire a 24 per cent stake in Altius, with Brookfield continuing as the largest shareholder, according to a media statement Wednesday. Other existing investors include GIC Pte and British Columbia Investment Management Corp.
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The deal reflects growing interest among global investors for Indian infrastructure assets, with Blackstone Inc., KKR & Co. and Macquarie Asset Management ramping up investments. Earlier this week, CPP Investments, Ontario Teachers’ Pension Plan Board, Temasek Holdings Pte, AustralianSuper and others backed the National Investment and Infrastructure Fund Ltd.’s latest fund.
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La Caisse’s other India investments include Azure Power India Pvt., Apraava Energy Pvt. and Maple Infrastructure Trust. It manages US$552 billion of assets globally.
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