The National Investment and Infrastructure Fund (NIIF) in a recent development has announced its first investment, a partnership with UAE-based DP World for a platform to mobilize investment worth $3 billion into ports, terminals, transportation, and logistics businesses in India. The platform will make equity investment to acquire assets and develop projects in the sector, DP World stated in a separate statement. The partnership follows an agreement signed in May 2017. The first close of the NIIF Master Fund took place in mid October, with contributions from a subsidiary of Abu Dhabi Investment Authority and four domestic institutional investors - HDFC Group, ICICI Bank, Kotak Mahindra Life, and Axis Bank. NIIF, set up to function as a major platform in India for attracting foreign investments, has made good progress, said Economic Affairs Secretary, Subhash Garg. NIIF is being operationalised by establishing three Alternative Investment Funds. The central government's contribution to the funds under the NIIF scheme shall be 49 per cent of the total commitment, he added.
📅Published on:
24 January 2018
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