IIFCL appointed as interim investment adviser of NIIF

State-owned IIFCL has been appointed as interim investment adviser of the National Investment and Infra Fund (NIIF).
"1st Board Meeting of National Investment and Infrastructure Fund (NIIF) Trust company held recently. IIFCL appointed as interim investment adviser," Economic Affairs Secretary Shaktikanta Das said in a tweet today.
In July, the Cabinet had approved creation of NIIF, a sort of sovereign fund, for development of infrastructure projects, including the stalled ones.
The Fund, set up as a company or a trust with an expected initial corpus of Rs 40,000 crore, is created as a Fund of Funds (Category II Alternate Investment Fund) with a proposed series of funds.

Das further said that there are many big funds showing interest in NIIF and talks are being held with several potential investors.
In another tweet, he said, "Discussion being held with potential investors like foreign sovereign and pension funds. Lot of interest from big funds to invest."
IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL).
The authorised and paid up capital of the company as on September 30, 2015 stood at Rs 5,000 crore and Rs 3,900 crore, respectively.