Macquarie Asset Management Acquires Maple Infrastructure Trust Units, Commits $450M to Indian Toll Roads

Macquarie Asset Management (MAM), through its Macquarie Asia-Pacific Infrastructure Fund 4 (MAIF4), has completed the acquisition of units from global investment group La Caisse in Maple Infrastructure Trust, an infrastructure investment trust (InvIT) that owns and operates toll roads in India.

The transaction was completed on September 11, 2026, MAM said in a statement.

Following the transaction, MAM and La Caisse will jointly hold controlling stakes in Maple’s investment manager and project manager.

As part of the transaction, MAIF4 has committed $450 million, including $150 million of additional equity earmarked for future acquisitions by Maple. La Caisse has also committed $150 million to support the InvIT’s future growth.

Maple, established in 2021, owns and operates seven toll roads across six states in eastern, northern and southern India. Its road network has an aggregate length of around 3,328 lane kilometres.

MAM said the partnership would combine its infrastructure investment and asset management experience in India with La Caisse’s experience in developing and managing infrastructure platforms globally.

“India remains a key market for Macquarie, and Maple reflects our conviction in the country’s long-term infrastructure opportunity,” Verena Lim, Co-Head of Asia-Pacific Infrastructure for Macquarie Asset Management and Asia CEO for Macquarie Group, said.La Caisse Executive Vice-President and Head of Infrastructure and Sustainability Emmanuel Jaclot said the investment group had entered India’s roads sector five years ago with a single asset and that Maple had since expanded into a larger road platform.

India has a road network of around six million kilometres, with rising vehicle ownership and mobility needs supporting demand for transport infrastructure, according to the statement.