Led by its Chief Executive J Subramanian, IndInfravit has acquired nine operational road assets of Sadbhav Infrastructure Projects at a whopping Rs.66.10 billion. IndInfravit is an infrastructure investment trust (InvIT) sponsored by L&T Infrastructure Development Projects (L&T IDPL), which currently holds a portfolio of five operational toll road concessions. Along with L&T IDPL, other unit holders include Canada Pension Plan Investment Board (CPPIB), Allianz insurance companies and OMERS Infrastructure. The roads portfolio acquired by IndInfravit includes seven toll roads and two annuity roads, with a total 2,619 km. These road projects – in Gujarat, Karnataka, Maharashtra, Rajasthan and Telangana – have been operational for about six years. The transaction is reportedly expected to witness the InvIT’s largest backer CPPIB commit capital to the tune of Canadian $220 million. Notably, under the leadership of Subramanian, the L&T IDPL-established IndInfravit Trust was also the first private InvIT of its kind in India. And this move of acquiring Sadbhav’s assets only evidences IndInfravit’s growth and expansion plans.