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Canada’s Public Sector Pension Investment Board (PSP Investments) is exploring a potential sale of its Indian road assets held through Roadis, its global road investment platform. The pension fund is working with an adviser to assess a possible divestment that could value the assets at around USD 1.5 billion, including debt. The Indian portfolio has been an important contributor to Roadis’ growth. Preliminary interest has reportedly emerged from other investment firms and industry players, although discussions remain at an early stage and no final decision has been taken on a sale.
Canada’s Public Sector Pension Investment Board (PSP Investments) is considering a potential divestment of its road assets in India, with the portfolio being assessed for a possible transaction valued at around USD 1.5 billion, including debt.
The Canadian pension fund is working with an adviser to examine options for the Indian assets, according to people familiar with the matter. A sale is among the possibilities being considered, although the process remains preliminary and there is no indication that a transaction has been finalised. PSP Investments has not publicly confirmed plans to sell the assets and declined to comment on the matter.
The road portfolio forms part of Roadis, PSP Investments’ global road investment platform established in 2016. Roadis operates road assets across several markets, including India, Brazil, Mexico, Spain and the US. According to the fund’s 2025 report, its Indian assets have been a significant contributor to the platform’s growth.
The potential valuation of USD 1.5 billion would include the debt associated with the road assets. The figure represents the value that PSP Investments may seek if it proceeds with a divestment, rather than a confirmed transaction value. The eventual price would depend on the assets under consideration, the structure of a possible transaction and negotiations with prospective buyers.
The review comes as infrastructure assets in India continue to attract interest from institutional investors and other long-term capital providers. Operating road projects can offer investors exposure to established transportation infrastructure and associated cash flows, making mature highway portfolios relevant to infrastructure-focused funds and strategic investors.
Preliminary interest has already emerged from other investment firms and industry participants, according to people familiar with the discussions. However, the talks are still at an early stage, and there is no certainty that any of the interested parties will proceed with an offer or that PSP Investments will ultimately sell the portfolio.
PSP Investments is one of Canada's major institutional investors. It reported USD 320.6 billion (USD 230 billion) in net assets under management at the end of March, giving it a substantial global investment base across asset classes. Its consideration of the Indian road portfolio therefore forms part of its wider approach to managing infrastructure investments rather than indicating a confirmed withdrawal from the Indian market.
For the Indian roads sector, a potential transaction could bring a sizeable portfolio of operational infrastructure assets into the market for institutional investors to evaluate. If PSP Investments proceeds with a sale, the process could attract interest from infrastructure funds, financial investors and companies seeking to expand their road asset portfolios.
However, the current situation remains exploratory. The involvement of an adviser indicates that PSP Investments is assessing its strategic options, but it does not establish that a sale will take place. The fund could ultimately choose to retain the assets or pursue another structure depending on valuations and market conditions.
For now, the reported USD 1.5-billion figure should therefore be viewed as a potential valuation rather than the proceeds of a concluded transaction. Any change in ownership would require further negotiations and agreement between PSP Investments and prospective investors.
The next stage will depend on the outcome of the adviser-led review and the level of interest from potential buyers. Until then, PSP Investments continues to hold the Indian road assets through Roadis, while discussions over a possible divestment remain at an early stage.
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