The government´s plan to unlock Rs 4,500 crore equity from road projects seems to have hit a roadblock. PE funds - including Macquarie, Piramal, IDFC Alternatives and I Squared Capital - have raised concerns on 100 per cent exit policy for road projects. These funds want NHAI and the companies to settle pending claims before acquiring stake.
PE funds are also opposing reinvesting returns made on 26 per cent stake sale in infrastructure projects. Returns made on exit of 74 per cent stake by PE funds have to be given back to investors.