The National Investment and Infrastructure Fund (NIIF) has made its First investment. NIIF has partnered with DP World to create an investment platform for ports, terminals, transportation and logistics businesses in India.
The first close of the NIIF Master Fund took place in October 2017 with contributions from a subsidiary of Abu Dhabi Investment Authority (ADIA) and four Domestic Institutional Investors (DIIs), viz., HDFC Group, ICICI Bank, Kotak Mahindra Life and Axis Bank. An India-UK Green Growth Equity Fund (GGEF) is also being set-up under the fund of funds vertical of NIIF and shall have anchor commitments of GBP 120 million each from Government of India (through NIIF) and Government of UK.
About NIIF in Brief-
NIIF Ltd. is a fund manager that seeks to create long-term value for domestic and international investors seeking investment in energy, transportation, housing, water, waste management and other infrastructure-related sectors in India. The company is jointly-owned by the Government of India and investors from India and abroad.
Source- Press Information Bureau (PIB)