The National Investment and Infrastructure Fund (NIIF) recently signed an investment agreement worth $1 billion with Abu Dhabi Investment Authority (ADIA). As part of the comprehensive partnership agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in National Investment and Infrastructure Limited, the NIIF’s investment management company quoting CEO, NIIF, Sujoy Bose, said, elaborating that the agreement marks the culmination of an extensive process of collaboration with ADIA to develop an investment structure that is attractive to international investors while remaining closely aligned with the NIIF’s objectives. Executive Director of the Real Estate and Infrastructure Department at ADIA, Khadem Al Remeithi, said that the fund is set to play an important role in facilitating the flow of foreign capital into India’s infrastructure sector. The corpus of the NIIF is proposed to be Rs.40,000 crore ($6 billion) wherein the government will invest 49% and it will raise third party capital for the remaining Rs.20,000 crore ($3 billion) from long-term international investors, such as a sovereign wealth funds, insurance and pension funds and endowments.
📅Published on:
20 October 2017
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