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New fund · Financial Services

NIIF raises $2 billion for infrastructure fund

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National Investment and Infrastructure Fund logo
Date
Company
National Investment and Infrastructure Fund
What it does
Sovereign-backed alternative asset manager
Kind
New fund
Amount
$2 billion
Stage
growth
Based in
Mumbai
Sector
Financial Services

What they do

The firm manages equity capital across infrastructure, private markets, and climate-focused investment strategies for India

What happened

NIIF secured $2 billion for its second infrastructure fund, which aims for a total target of $3.2 billion

Why it matters

The fund attracts major global and domestic institutional investors to support core sectors like energy, transport, and digital infrastructure

The details

  • The National Investment and Infrastructure Fund has raised $2 billion for its second infrastructure fund.
  • This new fund is currently targeting a total corpus of $3.2 billion.
  • The firm also expects to raise an additional $950 million in co-investment capital for specific infrastructure projects.
  • The fund focuses on core sectors including energy, transport, and digital infrastructure.
  • It is also expanding its investment mandate to include urban infrastructure and electric mobility.
  • The capital was sourced from major global and domestic institutional investors.

The bigger picture

  • The Government of India maintains a 49% stake in the firm, which acts as a sovereign-backed investment vehicle.
  • NIIF serves as a bridge between global capital and investment opportunities within the Indian market.
  • The firm manages over $7 billion in equity capital commitments across various asset classes.

About the business

  • NIIF operates as an alternative asset manager providing equity and structured debt to Indian companies.
  • The firm manages funds across Sustainable Infrastructure, Private Markets Growth Equity, and Climate Investments.
  • The India-Japan Fund specifically promotes business collaboration and environmental preservation initiatives.
  • NIIF is governed by a Board of Directors and a Governing Council.
  • The firm has participated in over 90 direct and indirect investments to date.
  • It maintains an assets under management (AUM) figure exceeding $4 billion across its various funds.

The deal

Type
fund

Investors

  • AustralianSuper (participated) — A major global institutional investor.
  • CPP Investments (participated) — A major global institutional investor.
  • Ontario Teachers' Pension Plan (participated) — A major global institutional investor.
  • Temasek Holdings (participated) — A major global institutional investor.
  • ICICI Bank (participated) — A domestic institutional investor.
  • HDFC Bank (participated) — A domestic institutional investor.

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