Actis folds 11 India road assets into NXT-Infra Trust; NXT-Infra, sponsors raise INR 11,875m

Actis has consolidated its two Indian road portfolios into a single platform, NXT-Infra Trust, holding 11 road assets that span more than 3,000 lane km.

The trust combines assets held under the privately listed investment trust NXT-Infra by Actis Long Life Infrastructure Fund 1 with those of Actis Long Life Infrastructure Fund 2. NXT-Infra Trust completed the acquisition of the Fund 2 road assets as part of that consolidation, Actis said in announcing it.

NXT-Infra and the sponsors raised INR 11,875 million alongside the transaction, with Actis funds collectively owning about 71% of the trust afterward. Actis described the raise as drawing strong participation from leading domestic institutional investors; the announcement does not name them.

The consolidated business operates across 10 Indian states, with approximately 55% of revenue from Hybrid Annuity Model projects and approximately 45% from toll roads.

Eight of the 11 assets are HAM projects: the Delhi-Meerut Expressway, Chutmalpur-Ganeshpur, Gagalheri-Saharanpur, Chikhali-Tarsod, Amravati, Darah Jhalawar Highways, Vadodara Kim Expressway and Calicut Expressway. The toll road projects are Mukarba Chowk-Panipat, Second Vivekananda Bridge Tollway and Vindhyachal Expressway.

Adrian Mucalov, head of long life infrastructure at Actis, said India's roads "carry one of the fastest-growing major economies in the world, and the quality of that network matters – for trade, for communities, for growth." He called the combination "the logical next step" toward a platform of "genuine scale" that can be actively managed and "structured with the aim of delivering long-term, stable returns to our investors."

The transaction leaves the Fund 1 and Fund 2 roads under one vehicle and one management team, with Actis funds as the majority holder alongside the domestic institutions that joined the raise.