Edelweiss Alternatives Completes Acquisition Of L&T Infrastructure

Edelweiss Alternatives' Infrastructure Yield Plus strategy has finalised the acquisition of a 100 per cent stake in L&T Infrastructure Development Projects (L&TIDPL), previously owned 51 per cent by Larsen & Toubro (L&T) and 49 per cent by Canada Pension Plan Investment Board (CPP Investments).

The portfolio acquired consists of seven operating roads and one power transmission asset in India, covering approximately 4,400 lane-kms and 960 ckms respectively. With this acquisition, the infrastructure platform will now encompass 26 assets, including around 5,000 lane-kms of roads, 1,800 ckms of power transmission assets, and 813 MWp of renewables, with a cumulative annual revenue of approximately Rs 3,000 crore.

This acquisition aligns with the infrastructure yield strategy of generating regular distributions for investors by acquiring quality operating infrastructure assets with robust cash flows and unlocking value through active asset management.

Sreekumar Chatra, Managing Director - Infrastructure Yield Strategy at Edelweiss Alternatives, expressed, "This acquisition is a significant milestone for our business. These assets have a proven track record of revenues & operations, which are geographically dispersed and have long residual life. With our strong asset management and operating capabilities, we are confident of creating further value in the portfolio and scaling it up further."

Subahoo Chordia, Head of Real Assets Strategy at Edelweiss Alternatives, highlighted the robust interest from various investor segments in their Real Assets Strategy. He emphasised the preference of LPs (Limited Partners) to invest with managers possessing strong management with decades of industry experience, on-ground presence of operating teams, sound governance framework, and a performance track record in the strategy.

Edelweiss Alternatives, with an AUM (Assets Under Management) of approximately USD 6.3 billion (over Rs  52,100 crore) as of December 2023, is one of the largest Alternatives platforms in India. It offers a diverse array of investment solutions across Private Credit and Real Asset Strategies, focusing on providing high-quality credit and yield opportunities to global and domestic investors.

With this latest acquisition, Edelweiss Alternatives solidifies its position as a leading infrastructure investor in India, boasting a high-quality diversified infrastructure portfolio of 26 assets across 13 states.