Allianz to Sell Stake in Indian Road Operator Interise to Omers

Ontario’s pension fund for local government workers agreed to buy Allianz Capital Partners’ stake in Interise Trust, boosting its exposure to the Indian toll-road business.

The deal will see Ontario Municipal Employees Retirement System raise its ownership to 34.8% from the current 21.3%. The transaction “increases Omers’ exposure to India’s economic growth, through an asset and sector that we know well,” Christopher Curtain, Asia-Pacific head of the pension fund’s infrastructure unit, said in a statement.

Formerly known as IndInfravit Trust, Interise is one of the largest investment trusts in India’s road sector, holding a portfolio of 17 ...