Key Takeaways
- • Actis consolidated its Indian road assets into NXT-Infra Trust, a SEBI-registered Infrastructure Investment Trust (InvIT) valued at INR 10,000 crore ($1 billion), combining holdings from Actis Long Life Infrastructure Fund 1 and Fund 2.
- • The consolidated platform operates 11 road assets spanning 3,000+ lane kilometers across 10 Indian states, with revenue split approximately 55% from Hybrid Annuity Model (HAM) projects and 45% from toll road operations, positioning the portfolio in high-growth corridors.
- • NXT-Infra raised INR 11.8 billion ($123 million) in capital with strong participation from domestic institutional investors; Actis funds collectively retain 71% ownership following the transaction.
- • The consolidation creates a scaled, diversified operational roads business with enhanced institutional appeal through the InvIT structure, enabling access to domestic capital markets and institutional capital pools.
Summary
Actis has completed a strategic consolidation of its Indian road infrastructure portfolio by combining multiple holdings into NXT-Infra Trust, a newly established SEBI-registered Infrastructure Investment Trust valued at INR 10,000 crore ($1 billion). The transaction brings together 11 road assets held across Actis Long Life Infrastructure Fund 1 and Actis Long Life Infrastructure Fund 2 into a single, unified operational platform spanning more than 3,000 lane kilometers across 10 Indian states.
The platform's revenue composition reflects exposure to both stable infrastructure models and market-based returns: approximately 55% derives from Hybrid Annuity Model (HAM) projects, which provide structured government support, while 45% comes from toll road operations subject to market demand dynamics. This diversified allocation across both project types and high-growth geographic corridors aims to balance risk and return profiles.
As part of the consolidation, NXT-Infra Trust acquired road assets previously held by Actis Long Life Infrastructure Fund 2 and raised INR 11.8 billion ($123 million) in new capital. The fundraising round achieved strong participation from leading domestic institutional investors, reflecting confidence in India's infrastructure sector and the structured nature of road assets. Following these transactions, Actis funds retain a controlling 71% stake in NXT-Infra Trust.
The InvIT structure—a regulated framework for infrastructure investing—provides institutional accessibility and regulatory clarity for domestic capital flows. This consolidation enhances portfolio governance, operational efficiency, and scalability while positioning NXT-Infra Trust to access both domestic institutional capital and potentially international limited partners seeking exposure to India's core infrastructure segment.
The platform's revenue composition reflects exposure to both stable infrastructure models and market-based returns: approximately 55% derives from Hybrid Annuity Model (HAM) projects, which provide structured government support, while 45% comes from toll road operations subject to market demand dynamics. This diversified allocation across both project types and high-growth geographic corridors aims to balance risk and return profiles.
As part of the consolidation, NXT-Infra Trust acquired road assets previously held by Actis Long Life Infrastructure Fund 2 and raised INR 11.8 billion ($123 million) in new capital. The fundraising round achieved strong participation from leading domestic institutional investors, reflecting confidence in India's infrastructure sector and the structured nature of road assets. Following these transactions, Actis funds retain a controlling 71% stake in NXT-Infra Trust.
The InvIT structure—a regulated framework for infrastructure investing—provides institutional accessibility and regulatory clarity for domestic capital flows. This consolidation enhances portfolio governance, operational efficiency, and scalability while positioning NXT-Infra Trust to access both domestic institutional capital and potentially international limited partners seeking exposure to India's core infrastructure segment.
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