Temasek becomes seventh investor in NIIF Master Fund, parks Rs 27.5 bn

NIIF hopes to raise Rs 400 bn across its three funds in the near term namely, Master Fund, Fund of Funds and Strategic Investment Fund

Temasek Holdings, the Singapore based global investment firm, has agreed to invest up to $400 million or Rs 27.5 billion in the National Investment and Infrastructure Fund’s (NIIF) Master Fund, said NIIFs CEO and Managing Director Sujoy Bose at a media roundtable on Thursday.

Temasek is now the seventh investor in the NIIFs Master Fund, after the Government of India, Abu Dhabi Investment Authority (ADIA), HDFC Group, Kotak Mahindra Life Insurance, Axis Bank and ICICI Bank.

The NIIF is essentially a fund manager that is registered with the Securities and Exchange Board of India (Sebi) as an Alternative Investment Fund