Macquarie completes Maple InvIT stake buyout

Mumbai: Macquarie Asset Management (MAM), through Macquarie Asia-Pacific Infrastructure Fund 4 (MAIF4), has completed the acquisition of units from Maple Infrastructure Trust, an infrastructure investment trust (InvIT) that owns and operates toll roads in India, according to a Macquarie statement. Maple is owned by global investment group La Caisse ( formerly CDPQ).

Following the transaction, MAM and La Caisse will jointly hold controlling stakes in Maple’s investment manager and project manager.

As part of the transaction, MAIF4 has committed $450 million to Maple, including $150 million of additional equity earmarked for future acquisitions. La Caisse has separately committed $150 million to support the platform’s future growth.


Established in 2021, Maple owns and operates seven toll roads across six states in eastern, northern and southern India under long-term concession frameworks. Its road portfolio has an aggregate length of about 3,328 lane kilometres.

In April, The Competition Commission of India (CCI) has approved the acquisition by MAIF 4 Investments India 2 Pte. Ltd. of 42.5% of the equity share capital of Maple Infra InvIT, 40% of the of Maple Project Management and up to 37.5% of the units of Maple Trust.

“India remains a key market for Macquarie, and Maple reflects our conviction in the country’s long-term infrastructure opportunity,” said Verena Lim, co-head of Asia-Pacific infrastructure at Macquarie Asset Management and Asia CEO of Macquarie Group.

Emmanuel Jaclot, executive vice-president and head of infrastructure and sustainability at La Caisse, said the partnership with Macquarie represented a strong vote of confidence in Maple and the growth opportunities ahead.