The Government of Singapore Investment Corporation (GIC) sovereign wealth fund, GIC Private Limited has invested in IRB Infrastructure Developers Ltd road platform in India for a total commitment of INR44 billion (US$619 million). 

The investment of GIC includes financing for future construction costs and will be used for deleveraging the portfolio and equity funding for under-construction projects of the portfolio. The deal is the third major infrastructure investment of GIC sovereign wealth fund. S&R Associates acted as the legal advisor to IRB and Nishith Desai Associates acted as the legal advisor to GIC for the completion of the deal. 

The road platform involved in the deal spans around 1200 km in Haryana, Uttar Pradesh, Rajasthan, Gujarat, Maharashtra, and Karnataka states of India. Three of these projects have been completed while the remaining six are under various stages of construction. Five of the assets under construction are 4 to 6-laning projects, where tolling and construction have already begun.