Indian Ports Buckle Up for Major Boost as A.P. Moller and JSW Join hands to Enhance Infrastructure

Denmark-based infrastructure fund manager A.P. Moller Capital P/S, a part of the A.P. Moller Group, has announced a joint venture with JSW Infrastructure Ltd., India’s second-largest private port operator. This partnership aims to invest in and develop the ports and logistics ecosystem in India.

The two companies signed a memorandum of understanding on Thursday to formalize the creation of this joint venture, according to A.P. Moller Capital. This initiative is part of their strategy to expand their transport and logistics portfolio in India.

A.P. Moller Capital specializes in critical infrastructure investments, focusing on transportation and energy transitions. It is supported by both Danish and international institutional investors. The company is chaired by Robert M. Uggla, who also chairs A.P. Moller Maersk A/S, known for its leading container shipping line and global container port operations through A.P.M. Terminals Management B.V.

In February, A.P. Moller Capital opened a new office in Singapore to enhance its investment activities in South and Southeast Asia, with plans to commit over $750 million to infrastructure projects in the region. The firm manages over $1.5 billion across 16 projects, aimed at supporting food and mineral security, decarbonization, and sustainable economic growth.

The establishment of its office in Singapore marks a significant growth strategy in A.P. Moller Capital’s journey. “We are very excited to now also offer our leadership and experience within transport, logistics, and decarbonization to South and Southeast Asia, expanding our focus on investments and developments in high-growth markets while generating attractive returns to our investors,” said Kim Feifer, CEO and Managing Partner of A.P. Moller Capital, adding that the new office demonstrates the company’s commitment to building a highly successful long-term investment business across the Asia region.

The new office and A.P. Moller Capital’s Asia strategy and team will be led by Partner Dhruv Narain.

“This is the next exciting step in the growth of A.P. Moller Capital and our investment business in Asia, where we see significant opportunity to fulfill our purpose of executing on investments that do well for our investors while doing good in the community,” Dhruv Narain, Partner, A.P. Moller Capital, said in February.

Dhruv joined A.P. Moller Capital in August 2022 and has previously led Asian, European, and American investment teams at Macquarie, the World Bank’s International Finance Corporation (IFC), the Abu Dhabi Investment Council (part of the Mubadala Group), and GCM Grosvenor over a 21-year career in the sector.

The Asia team includes T. P. Chopra, who is based out of India.

A.P. Moller Capital is among a few entities seeking to buy the stake held by private equity firm Global Infrastructure Partners in Pristine Logistics & Infraprojects Ltd., a rail-focused logistics firm, ET Infra reported earlier.

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