Singapore’s sovereign wealth fund GIC, through its affiliates, has agreed to pick up a 49% stake in IRB Infrastructure Developers Limited’s (IRB) road platform for ₹4,400 crore. As part of the deal, IRB will transfer nine of its road assets into a private infrastructure investment trust in which IRB will hold a controlling stake of 51%, while GIC will hold 49% in the investment manager (IM) entity formed to manage the private trust.