Macquarie Funds Put $150M Into Indian Toll Road Operator

Law360, New York (August 13, 2012, 5:57 PM EDT) -- Funds backed by Australian infrastructure investor Macquarie Group Ltd. and the State Bank of India have invested $150 million in Ashoka Concessions Ltd., an Indian construction firm currently operating seven toll road concessions worth $1.6 billion, Macquarie said Monday.

Macquarie-SBI Infrastructure Fund, a $910 million fund established in 2010 to focus on Indian infrastructure assets, led the investment while SBI Macquarie Infrastructure Trust, a $260 million fund, made an unspecified co-investment, the company said. The money will be used to develop Ashoka's projects currently under construction,...
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