Singapore based investment firm Temasek signed an agreement to invest up to $400 million in the National Investment and Infrastructure Fund (NIIF), a quasi sovereign wealth fund. The agreement also makes provisions of potential future investments by Temasek and the NIIF.
Temasek will join the government of India, Abu Dhabi Investment Authority (ADIA), HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as an investor in NIIF’s Master Fund and as a shareholder in National Investment and Infrastructure Limited, NIIF’s investment management company.
This investment makes the NIIF Master Fund one of the largest infrastructure funds in India. The fund invests in invests in core infrastructure sectors in India with a focus on transportation, energy and urban infrastructure.
"Temasek is one of the most renowned institutional investors globally and will add to the roster of marquee investors backing NIIF," said NIIF CEO Sujoy Bose.
Temasek has had an overall corporate credit rating of AAA/Aaa by rating agencies S&P Global Ratings and Moody’s Investors Service respectively, since our inaugural credit rating in 2004.