National Investment and Infrastructure Fund Ltd (NIIFL) has announced that New Development Bank (NDB) has committed to invest $ 100 million into the NIIF Fund of Funds (FoF).
Set up in 2018 to provide homegrown Indian private equity fund managers access to an India-focused institutional investor, the FoF has secured $ 800 million in commitments from Government of India (GoI), Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) in addition to NDB. Further, it has made commitments to four funds aggregating over Rs 2,750 crore so far.
NIIFL is a collaborative investment platform for international and Indian investors, anchored by the Indian government. It invests across asset classes such as infrastructure, private equity and other diversified sectors in India, with the objective to generate attractive risk-adjusted returns for its investors.
The company, as of last November, managed over $4.3 billion of equity capital commitments across its three funds - Master Fund, Fund of Funds and Strategic Opportunities Fund.
(Edited by : Aditi Gautam)