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    NIIF fixes $5-bn for infra financing

    National Investment and Infrastructure Fund (NIIF)
    In an attempt to bring long-term financing facilities to infrastructure sector, the National Investment and Infrastructure Fund (NIIF) is all set to create $5 billion master fund and the fund, which will come into the infrastructure sector, will stay for a longer period of time that will be available for investing in infra sector in the country, NIIF chief executive Sujoy Bose said. The proposed fund, which will have a combination of international as well as domestic investors, is going to be of 15 years and will be denominated in the rupees. Besides a master fund, NIIF, which is the country’s first quasi sovereign wealth fund, also creating a fund of funds, where it will anchor fund manager and help them raise capital to create fund management institutions that can grow overtime. He said that there are very strong fund management companies in the country that have evolved over the past couple of decades. But right now in the infra sector, there has been a bit of a slowdown in fund generation and the financing body wants to support these managers as there is a need of creating a universe of local fund managers critical for the development of the sector, he added.
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