Global private equity major KKR and Canadian pension fund Ontario Teachers' Pension Plan (Ontario Teachers') will invest about Rs 5,500 crore in its infrastructure trust (InvIT) - Highways Infrastructure Trust (HIT) that owns and operates highways in India, according to a stock exchange announcement.

KKR's investment arm - Nebula Asia Holdings II Pte. Ltd. will invest about Rs3,756 crore while Ontario Teachers' will invest Rs1,695 crore, said the statement. KKR is the sponsor of the HIT, while Ontario Teachers' is a significant shareholder.

The capital will be used to fund the latest acquisitions by HIT.

Last year, Highways Infrastructure Trust had agreed to acquire 12 road assets from PNC Infratech and its wholly-owned subsidiary PNC Infra Holdings, for enterprise value of ₹9,006 crore.

KKR entered into the Indian road sector in 2021 by acquiring Highway Concessions One (HC1) and seven highway assets with a total length of 487 kilometers from Global Infrastructure Partners’ (GIP). It also acquired Hyderabad based Navayuga group's toll road - Navayuga Udupi Tollway - for an enterprise value of ₹924 crore.

KKR had set up its InvIT -Highways Infrastructure Trust (HIT) in 2022. Over the years, HIT portfolio has grown to to 15 assets, spanning around 3580 lane kilometres across nine states in India.

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), a leading infrastructure investor in India, is in early talks with a few global institutional investors to raise capital for its infrastructure trust in India -Maple Infrastructure Trust, ET reported on Tuesday.

CDPQ is planning to raise $300-400 million in the latest round of fundraising for Maple Infrastructure Trust, formerly Indian Highway Concession Trust. It has mandated Rothschild to manage the fundraising exercise, ET reported.