Toronto-headquartered Canada Pension Plan Investment Board (CPPIB) and Germany’s Allianz Capital Partners, the in-house asset manager for alternative investments of the Allianz Group, has agreed to take 55 percent of the units in an infrastructure investment trust backed by a subsidiary of Larsen & Toubro Ltd. L&T Infrastructure Development Projects Ltd’s (IDPL), which is scheduled to list on the market on May 10, 2018. CPPIB will invest C$199 million for its 30 percent stake in IDPL, it said in a joint statement with Allianz. Allianz Capital Partners, on behalf of Allianz insurance companies, will buy 25 percent of the units in its first direct investment in Asia, the statement said. The investment will be CPPIB’s third into IDPL after it spent C$382 in two tranches in 2014. L&T IDPL has a portfolio of assets comprising roads, bridges, metro rail in southern India's city of Hyderabad, ports and power transmission lines.