Cube Highways has raised ₹4,500 crore (approx. $550 million) for its maiden infrastructure investment trust (InvIT) from Canada’s pension fund, British Columbia Investment Management Corporation (BCI) and Abu Dhabi’s state owned investment firm, Mubadala.

Nishith Desai Associates acted as the legal, tax and strategic counsel to BCI for their investment in the InvIT. We advised BCI on legal, tax and regulatory aspects of their investment in the InvIT and additionally conducted legal due diligence on the Initial Portfolio Assets.

The transaction team consisted of Nishchal Joshipura, Ratnadeep Roychowdhury, Parul Jain, Harshita Srivastava, Kishore Joshi, Yogesh Nayak, Vasavi Kaparthi, Akash Kumar, Shipra Verma, Prakhar Dua, Harman Khorana and Anirudh Arjun.

The InvIT will have an initial portfolio that consists of 18 road assets aggregating to approximately 1,424 kilometres located across 11 states in India.

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