On December 21, 2020 National Investment and Infrastructure Fund Ltd (NIIFL) announced closure of NIIF Master Fund, as it had completed raising of the Fund by achieving a rupee equivalent size USD 2.34 Billion exceeding its target of USD 2.1 Billion. The investments marked the 5th & Final Close of the NIIF Master Fund.
i.The Fund saw investments worth USD 107 Million from new investors – Canada’s Public Sector Pension Investment Board (PSP Investments), United States International Development Finance Corporation (DFC) & Axis Bank which had already invested.
ii.The other investors in the master fund are Government of India, Abu Dhabi Investment Authority (ADIA), AustralianSuper, CPP Investments, Ontario’s Teachers’ Pension Plan, Temasek, HDFC Group, ICICI Bank & Kotak Mahindra Life Insurance.
NIIF Master Fund:
i.The Fund predominantly invests in operating assets in the infrastructure, Transportation & Energy Sector.
ii.NIIF Master Fund is India’s largest domestic infrastructure equity fund and invests in large scale infrastructure projects which are important for the development of India.
iii.It has successfully anchored platforms in ports & Logistics, renewable energy, smart meters & roads sectors.
National Investment and Infrastructure Fund Ltd (NIIFL):
i.NIIFL is a joint investment platform for international & Indian investors, anchored by the Government of India.
ii.It manages equity capital commitments across its 3 funds – Master Fund, Fund of Funds & Strategic Opportunities Fund
- Master Fund – Primarily Invests in operating assets in core infrastructure sectors such as Transportation & Energy.
- Fund of Funds – Invests in some of the most dynamic sectors in India such as climate infrastructure, middle-income & affordable housing, digital consumer platforms and other allied sectors
- NIIF Strategic Opportunities Fund – A Private Equity fund which aims to build scalable businesses across a range of opportunity long but capital short sectors.
Fact:
The Indian Government holds a 49% share in the NIIF
Recent Related News:
i.On 16th July 2020, NTPC signed MoU with NIIF, acting through NIIFL to seek investment opportunities in areas like renewable energy, power distribution and other areas of mutual interest in India.
ii.On June 1, 2020 IRCON signed a MoU with NIIFL and Ayana Renewable Power Private Limited(AYANA), NIIF platform company to explore and
collaborate on opportunities in the solar energy sector.
About National Investment and Infrastructure Fund Limited (NIIFL):
The government had set up the ₹40,000 crore NIIF in 2015.
Managing Director & Chief Executive Officer (CEO) – Sujoy Bose
Headquarters – Mumbai, Maharashtra
