Mumbai: The Public Sector Pension Investment Board (PSP Investments<\/a>), one of the largest pension investors in Canada, is in preliminary talks to buy a significant minority stake in Maple Infrastructure Trust<\/a>, the Indian infrastructure trust (InvIT) owned by Canadian fund CDPQ<\/a>, people aware of the development told ET. <\/p>\n CDPQ plans to raise about $300-400 million through the latest round of fundraising and has hired Rothschild to run the mandate, ET reported last month.<\/p>\n Presently, Maple Infrastructure Trust has an enterprise value of about \u20b916,000 crore (just shy of about $2 billion). The proposed fund will also be used to finance Maple’s recent acquisition of the toll road assets of Ashoka Concessions<\/a>. Besides CDPQ, other existing investors are also likely to dilute stakes partially, said the sources cited above.<\/p>\n <\/p>\n Although the sale process is not yet launched officially, a few global investors<\/a> including PSP and one from the Middle East are engaged in bilateral talks with CDPQ, said sources.<\/p>\n With $265 billion net assets under management, PSP is also an investor in the $2.3 billion Master Fund of North Block-owned National Investment and Infrastructure Fund (NIIF). Globally, PSP invests through its road investment platform, Roadies.<\/p>\n In October last year, Maple Infrastructure Trust had acquired 5 build-operate-transfer (BOT) toll road assets of Ashoka Concessions, a subsidiary of Highway builder Ashoka Buildcon<\/a>. <\/p>\n The assets were acquired at an aggregate enterprise value of \u20b95,718 crore. Maple InvIT has posted an income of \u20b9773 crore in FY2024.<\/p>\n <\/div>\n![\"bitcoins](\"https:\/\/img.etimg.com\/photo\/msid-117959453\/canadas-psp-in-talks-for-maple-invit-stake.jpg\" "\\"bitcoins")
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