GMR Infrastructure Ltd (GIL) Monday said it has settled an ongoing arbitration with its private equity investors, including SBI Macquarie and Standard Chartered, giving them 5.86 per cent equity in GMR Airport Ltd (GAL) and a cash payment of Rs 3,560 crore. Private equity (PE) investors - SBI Macquarie, Standard Chartered Private Equity, JM Financial Old Lane and others (investors) - had invested an amount of Rs 1,478 crore in the form of compulsorily convertible preference shares (CCPS) in GMR Airports Ltd (GAL) in FY2011 and FY2012. Arbitration proceedings were administered by the Singapore International Arbitration Centre.