High Commission of India

NIIF Master Fund Closes at 2.34 Billion Economic & Commercial

NIIF Master Fund Closes at 2.34 Billion

National Investment and Infrastructure Fund Limited (NIIFL) is a collaborative investment platform for international and Indian investors, anchored by the Government of India. NIIFL invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective to generate attractive risk-adjusted returns for its investors. NIIFL thinks long-term, believes in generating returns through efficiently operating its investments through economic cycles, and is committed to sustainable investing principles.

NIIF Limited manages over USD 4.3 billion of equity capital commitments across its three funds – Master Fund, Fund of Funds and Strategic Opportunities Fund.

(NIIFL) announced on 21st December 2020 that it has completed fund raising for its NIIF Master Fund. The Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, U.S. International Development Finance Corporation (DFC), the development finance institution of the United States federal government, and Axis Bank, an existing investor in the NIIF Master Fund signed agreements for investments of approximately 107 million cumulatively with the NIIF Master Fund. These investments mark the fifth and Final Close of the NIIF Master Fund. The Fund has achieved a size of the INR equivalent of USD 2.34 billion, exceeding its target of USD 2.1 billion.

DFC and PSP Investments partnered with the Government of India (GoI), Abu Dhabi Investment Authority (ADIA), AustralianSuper, CPP Investments, Ontario Teachers’ Pension Plan, Temasek, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as investors in the Fund. International investors have rights to co-invest an additional USD 3 billion alongside the Fund. DFC and PSP will join the other investors of the Master Fund as shareholders of NIIF Ltd, the investment manager. The NIIF Master Fund primarily invests in operating assets in core infrastructure sectors, primarily transportation and energy. As India’s largest domestic infrastructure equity fund, it is well positioned to invest at scale in large infrastructure projects which are strategic and crucial for the development of the country. The fund has successfully anchored platforms in ports and logistics, renewable energy, smart meters and roads sectors.