3i Group's infrastructure affilliate, whose head of investments Michael Queen became chief executive of the overall UK investment firm last month, has carried out the largest private equity investment in an Indian port.

The firm has paid $161m (€126m) for a minority stake in Indian port Krishnapatnam Port Company from family-owned Navayuga Group. It is the largest Indian shipping investment by a financial sponsor on record, according to data provider Dealogic.