Brookfield sells over 3 crore units of Energy Infra Trust for Rs 231 cr
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On May 21, 2020, Rapid Holdings 2 Pte, a subsidiary of the global alternative asset manager Brookfield Asset Management, executed a significant portfolio adjustment by selling over 3 crore (30.4 million) units of Energy Infrastructure Trust. This transaction, valued at Rs 231 crore (approximately $30.5 million at the time), occurred through an open market block deal on the Bombay Stock Exchange (BSE). The units were offloaded at an average price of Rs 76.10 each, with Tara Investments 2 (Incorporated VCC Sub-Fund) simultaneously acquiring an equal number of units at the same price, indicating a pre-arranged institutional trade rather than a direct market impact. This divestment by Brookfield's entity and the corresponding acquisition highlight the dynamic nature of infrastructure investment in India, particularly amidst the turbulent global macroeconomic environment of May 2020, marked by the early stages of the COVID-19 pandemic and unprecedented market volatility. For Brookfield, a prolific sponsor of India's InvIT, this could have been a strategic rebalancing or a profit-booking exercise, potentially optimizing its exposure to certain asset classes as global energy demand faced historic shocks. The transaction also underscores the growing maturity of India’s InvIT market, attracting sophisticated institutional capital like Tara Investments seeking stable, yield-generating infrastructure assets even during periods of significant economic uncertainty, further cementing India's appeal as an investment destination for real assets.