Private Equity

PE Fund Investments

Cube Highways and Infra InvIT raises Rs.5,226-Cr from Canada's BCI, Mubadala, others

Business Standard  

Singapore-based Cube Highways and Infrastructure, which invests in road and highway projects in India, has raised INR 5,226-crore through a privately placed infrastructure investment trust (InvIT). Canadian pension investment manager British Columbia Investment, Abu Dhabi's sovereign investor Mubadala and domestic institutional investors subscribed to the offering. The InvIT has an initial portfolio of assets that comprise 18 road assets, aggregating 1,424 kilometres, located across 11 states. Cube has raised INR 3,803 crore in fresh capital. The remaining INR 1,423 crore was a secondary share sale by sponsor Cube, which is backed by I Squared Capital, a joint venture of Abu Dhabi Investment Authority (ADIA), International Finance Corporation (IFC), and a consortium of Japanese investors