IDFC Ltd on Saturday said its subsidiary IDFC Alternatives has entered into an agreement to sell its infrastructure asset management business to Global Infrastructure Partners India for an undisclosed amount.

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After the sale, IDFC Alternatives will continue to manage private equity and real estate funds, IDFC informed BSE in a filing.

"IDFC Alternatives Ltd, a wholly owned step down subsidiary of IDFC Ltd through IDFC Financial Holding Company Ltd, has entered into a definitive agreement with Global Infrastructure Partners India, for the sale of its infrastructure asset management business," IDFC said.

This sale will conclude on the receipt of the requisite regulatory approvals.

"IDFC Alternatives will continue to manage Private Equity and Real Estate funds and the aforementioned sale to Global Infrastructure Partners India will not have any impact on its Private Equity and Real Estate verticals," it added.

Global Infrastructure Partners (GIP) is a leading global, independent infrastructure investor.