Canada-based pension fund Caisse de dépôt et placement du Québec (CDPQ) has agreed to acquire India-based road portfolio Highway Concessions One (HC1) from global infrastructure fund manager Global Infrastructure Partners (GIP) for INR24 billion (approximately USD336 million). HC1 comprises seven road assets, including five toll roads and two annuity projects. GIP secured a stake in the portfolio of assets when it acquired the infrastructure funds business of IDFC Alternatives in 2018. IDFC, India-based conglomerate Ashok Piramal Group, and Canada-based engineering company SNC-Lavalin Group established HC1 in 2011 to develop public-private partnership highway projects.