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Ontario Teachers’-backed Mahindra Susten to flip more green energy assets into InvIT
VCCircle
·
2m ago
Medial
Mahindra Susten Pvt Ltd, part of the Mahindra & Mahindra Group, plans to operationalize and transfer up to 5.5GW of green energy assets into its infrastructure investment trust (InvIT) within the next four to five years. This strategic move is aimed at optimizing asset management and enhancing growth in the green energy sector. The company has already made significant advancements in this direction, signaling a robust commitment to sustainable energy initiatives.
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Mahindra Group, Ontario Teachers’ Pension Plan launch renewable energy InvIT
Livemint
·
1y ago
Medial
Mahindra Group and Ontario Teachers' Pension Plan have co-sponsored an infrastructure investment trust (InvIT) called Sustainable Energy Infra Trust (SEIT) to focus on the growth of the renewable energy sector in India. SEIT debuted on the National Stock Exchange and has raised ₹1,365 crore ($165 million) as part of the initial offer. The trust holds operational renewable power assets with a generation capacity of approximately 1.54 GWp, and Mahindra Susten has entered into a right of first offer arrangement to offer their renewable energy assets for sale to SEIT.
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Ontario Teachers'-backed Mahindra Susten to invest $150 mn in green energy projects
VCCircle
·
1y ago
Medial
Mahindra Susten, a renewable energy unit of the Mahindra Group, will invest $150 million in setting up solar and wind energy projects in India. The projects, with a combined capacity of 150 MW, will be developed in partnership with Ontario Teachers' Pension Plan Board. The Mahindra Group will also acquire a 26% stake in its solar power generating unit Gelos Solren for $4.8 million. The move aligns with India's goal of increasing non-fossil capacity and the Mahindra Group's aim to adopt 100% renewable energy by 2030.
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Grapevine: AIIB may back Mahindra-OTPP InvIT; WestBridge, Norwest eye Meesho stake
VCCircle
·
1y ago
Medial
The Asian Infrastructure Investment Bank (AIIB) is likely to support the Mahindra Group and Ontario Teachers' Pension Plan (OTPP) in their renewable energy infrastructure investment trust (InvIT) venture. The InvIT, called Sustainable Energy Infra Trust, is planning to raise Rs 2,500 crore ($300 million) with AIIB as the anchor investor. This move aims to drive sustainable energy investments in India. Additionally, companies like WestBridge and Norwest are reportedly showing interest in acquiring a stake in e-commerce platform Meesho.
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AmpIn Energy plans to form InvIT, may create exit window for PE backer
VCCircle
·
3m ago
Medial
AmpIn Energy Transition Pvt. Ltd (AEPTL), a green energy firm, plans to move a significant portion of its assets into an infrastructure investment trust (InvIT). This strategic move aims to provide a potential exit opportunity for one of its major private equity investors. The process reflects a broader approach to asset management and investor relations within the renewable energy sector, ensuring continued growth and financial flexibility for the company.
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Canadian pension funds CPPIB, OTPP invest $438 mn more in India roads portfolio
VCCircle
·
1y ago
Medial
Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan (OTPP) have invested a combined total of $438 million in an infrastructure investment trust (InvIT) sponsored by the National Highways Authority of India (NHAI). This marks the third investment by the two pension funds in NHIT, bringing their total commitment to $878 million. The funds will continue to own 25% of the trust after this latest investment. The additional capital raised will be used by the InvIT to acquire seven road concessions in India, expanding its portfolio to 15 toll roads across multiple states.
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Grapevine: OTPP, Sahyadri Hospitals, and Accel-backed Bluestone in news
VCCircle
·
8m ago
Medial
Ontario Teachers' Pension Plan (OTPP) is reportedly planning to divest its controlling stake in Sahyadri Hospitals, while Bluestone, a company backed by Accel, has gained board approval to launch an initial public offering (IPO). These developments have been highlighted in recent media reports.
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OTPP-backed Sahyadri Hospitals draws interest from PE firms, strategic suitors
VCCircle
·
7m ago
Medial
Several private equity firms and strategic suitors are expressing interest in Sahyadri Hospitals, a healthcare company backed by Ontario Teachers’ Pension Plan (OTPP). The Canadian pension fund is seeking to reduce its stake in the company. Bids have been submitted by both international and Indian firms.
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KKR’s highways InvIT aims to double AUM to over $5.5 bn in growth drive
VCCircle
·
6m ago
Medial
KKR's Highways Infrastructure Trust (HIT) intends to double its assets under management to over $5.5 billion within the next three to four years. The roads-focused infrastructure investment trust, established by private equity firm KKR, is raising an additional Rs 5,501 crore from KKR and the Ontario Teachers’ Pension Plan (OTPP). This growth drive is aimed at expanding its infrastructure assets and strengthening its market position.
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NIIF plans maiden private credit fund, targets $2-bn corpus
VCCircle
·
5m ago
Medial
The National Investment and Infrastructure Fund (NIIF) plans to raise $2 billion for its first private credit fund, making it India's largest. The NIIF, backed by the Indian government and international investors like Canada's Ontario Teachers' Pension Plan and Singapore's Temasek, aims to channel international capital into India. The fund will focus on performing credit and large co-investments. NIIF manages four other funds, including the Master Fund and Strategic Opportunities Fund.
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Perfios turns Unicorn with $80 million from Canadian pension
The Arc Web
·
1y ago
Medial
Indian software company Perfios has secured $80m in funding from Ontario Teachers' Pension Plan's venture growth arm. The deal values the 16-year-old firm at over $1bn, after it raised $240m from Kedaara Capital in 2022. Perfios plans to use the funds to expand into US and European markets, in addition to its existing presence in Southeast Asia and the Middle East. The company, which provides data analysis solutions for banks and financial institutions, reported revenues of INR4.07bn ($54m) and a net profit of INR80m in FY2022. They serve over 1,000 clients, processing 1.7 billion transactions with $36bn in assets under management.
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