This investment was made when British International Investment was named CDC Group.
Our investment
Description of the investment.
Description of the investment.
In 2013, CDC invested $200 m illion into IIF2. Our commitment, the largest ever to an Indian investment fund, helped IIF2 reach a first close of $644m, and a final close at $850 million.
The fund will provide long-term investment for both construction and operating infrastructure projects throughout India.
Expected impact
Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.
Expected impact of investments made between 2012 and 2018. From 2019 onwards, we have published a fuller set of impact information, assessing each investment against six dimensions of impact.
The infrastructure gap is acute in India. Despite enjoying two decades of rapid economic growth, the country continues to face significant infrastructure shortages. The Indian government estimates that there is an investment shortfall of almost $1.5trn, much of which will need to be met by the private sector.
Our investment will go some way towards meeting the huge demand for new infrastructure, including in some of the poorest states, and drive both direct and indirect employment – the first fund created over 4,000 direct jobs as well as indirect employment for many thousands more.
It will also encourage greater commercial investment in the sector.
CDC backed parent company IDFC’s first India Infrastructure Fund in 2008 with a $100 million investment. The fund has subsequently made 15 investments across the country in businesses including the wind power operator Mytrah Energy, the Vijaywada toll road connecting Kolkata and Chennai and in Karaikal Port Private on the eastern coast.
Environmental and social information
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Environmental and social summary
A high-level description of the environmental and social aspects of the investment. This may include a summary of key environmental and social risks identified during environmental and social due diligence (ESDD); key elements of an environmental and social action plan (ESAP); or ways in which we plan to support the investee improve environmental and social standards, such as through their environmental and social management system (ESMS); as well as any other priority areas agreed with the investee.
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Environmental and social risk
A risk category rating, which indicates the level of environmental and social risk associated with an investment. For an explanation of the categorisations used, see here. We consistently provide an environmental and social risk category for all investments screened from 2023 onwards.
Environmental and social summary
We will work closely with the fund manager to develop and implement an action plan and ESMS that has the capacity to manage the higher level of environmental and social risk associated with this sector.
Reporting and Complaints Mechanism
The Reporting and Complaints Mechanism allows anyone outside BII to report alleged breaches of the business integrity or environmental and social provisions of BII’s Policy on Responsible Investing. This includes breaches made by BII, a BII investee, or a portfolio company of a fund in which BII has invested. The Reporting and Complaints Mechanism Rules are available here. Reports and complaints can be submitted by email to reportsandcomplaints@bii.co.uk or by mail. See more details on our Reporting and Complaints Mechanism here.
For any other general enquiries contact us at enquiries@bii.co.uk
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Key facts
- Last updated
:
When the last quarterly update of the website database occurred.
- June 2024
- Project number
:
An identifier number shared by investments in the same project.
- D218
- Status
:
The current status of the investment (green flag for active and red flag for exited).
- Active
- Region
:
The geographical region where the country is located. We currently invest in Africa, South Asia, South East Asia and the Caribbean. In 2023, BII’s investment mandate was extended allowing it to invest in regional funds linked to Ukraine, with the majority of activity expected to begin post-war. Investments outside these regions were made prior to 2012 under previous investment mandates.
- Asia
- Sector
:
We prioritise those sectors that facilitate development and need our capital the most. Our priority sectors contribute towards many of the Sustainable Development Goals. They range from investing in the power infrastructure that will provide people with better access to electricity, to investing in financial institutions that direct capital to the individuals and businesses that need it the most.
- Business services, Communications & IT services, Infrastructure
- Investment type :
- Fund
- Start date :
- December 2013
- Amount :
- $200m
- Currency of investment :
- USD
- Fund Manager:
- IDFC Project Equity
- Domicile
:
The company or investment fund’s place of incorporation.
- Singapore
We provide capital in the following ways: directly – through direct equity, direct debt, guarantees and other non-intermediated financial instruments; and indirectly – principally through investment funds.
For direct investments and fund investments, this is the date BII committed capital to the investments. This is typically the date on which legal agreements are signed by all parties.
For the portfolio companies of our fund investments, this is the date (either the month or the quarter) on which the fund committed capital to the portfolio company.
For direct equity investments, this is the date at which British International Investment exited the investment.
For debt investments, this is the date at which the final debt repayment was made.
For funds, this is the date at which the fund was terminated.
For underlying fund investments, this is the date at which the fund manager exited the investment.
The total amount committed, per financial instrument, per investment, on the date BII becomes subject to a binding legal obligation to provide funding or assume a contingent liability. This information is provided in US dollars.
For direct investments, this is the amount that BII has committed to the business or project. For fund investments, this is the amount BII has committed to the fund.
The currency in which the investment was made.
- Last updated
Investments made by this fund into companies:
| Investment name | Country | Region | Sector | Start date | Status |
|---|---|---|---|---|---|
| Ascend Telecom Infrastructure Pvt Ltd | India | South Asia | Communications & IT services | March 2017 | Active |
| Bangalore Elevated Private Limited | India | South Asia | Infrastructure | October 2016 | Exited |
| DB Power Limited | India | South Asia | Infrastructure | January 2015 | Exited |
| Delhi Cargo Service Centre | India | South Asia | Infrastructure | March 2015 | Exited |
| Dewas Bhopal Corridor Private Limited | India | South Asia | Infrastructure | December 2015 | Exited |
| First Solar (AP and Telangana Solar Assets) | India | South Asia | Infrastructure | December 2017 | Exited |
| Godhra Expressways Private Limited | India | South Asia | Infrastructure | February 2017 | Exited |
| IIFS Solar (Malwa Solar) | India | South Asia | Infrastructure | January 2018 | Exited |
| Jodhpur Pali Expressway Limited | India | South Asia | Infrastructure | March 2017 | Exited |
| ONGC Tripura Power Company Limited (OTPC) | India | South Asia | Infrastructure | April 2015 | Active |
| Pristine Logistics | India | South Asia | Business services | March 2018 | Active |
| Rattan India Solar | India | South Asia | Infrastructure | November 2019 | Active |
| Shillong Expressway Limited | India | South Asia | Infrastructure | March 2017 | Exited |
| Vector Green Energy Private Limited | India | South Asia | Infrastructure | February 2017 | Exited |
| Vector Green Sunshine Limited (Punj Lloyd Solar) | India | South Asia | Infrastructure | June 2017 | Exited |
