NEW DELHI: The National Investment and Infrastructure Fund (NIIF) on Monday announced a slew of investments by bigshots such as the Public Sector Pension Investment Board (PSP Investments) of Canada, US federal government’s International Development Finance Corporation (DFC) and Indian lender Axis Bank and a rupee equivalent size $2.34 billion.
The NIIF, set up by the government to channelise investments into its ambitious pipeline of over Rs 1 lakh crore worth of infrastructure projects, said these investments were worth about $107 million. It also marks the fifth and Final Close of the Master Fund, NIIF said. The master fund is India’s largest domestic infrastructure equity fund.
The NIIF also announced that it is now targeting to raise $ 2.1 billion for a private equity fund. The master fund invests in operating assets in core infrastructure sectors, primarily transportation and energy, according to a statement. While Axis Bank was already invested with NIIF, Canada’s PSP Investments and DFC are the new entrants.
Other investors in the master fund include Government of India, Abu Dhabi Investment Authority (ADIA), AustralianSuper, CPP Investments, Ontario Teachers’ Pension Plan, Temasek, HDFC Group, ICICI Bank and Kotak Mahindra Life Insurance. International investors have rights to co-invest an additional $3 billion alongside the fund.