Apis Partners invested $110m in L&T Infrastructure Debt Fund.

L&T IDF, a subsidiary of LTFH, has entered into a commitment for up to 25.1% minority equity investment from Apis Growth Fund II, a private equity fund managed by Apis Partners. The Fund’s investment into L&T IDF will support the growth of its loan book focused on infrastructure projects in India, strengthen its capital structure, and further its technology and digitisation strategy. This long-term partnership will support the Company in accessing low cost international sources of funds which will be utilised to refinance operational infrastructure projects in India. “Our IDF business has built significant strengths in core areas of renewable energy, road and transmission financing, resulting in a high quality loan book and consistent returns. This partnership with Apis is a reflection of the value creation that the Indian infrastructure financing space offers to investors looking for sustainable returns in the long term. Apis’ extensive experience in financial services will further strengthen our integration with global financial markets, as we continue on the path of robust growth.” Mr. Dinanath Dubhashi, L&T Finance Holdings Managing Director & Chief Executive Officer.