NIIF gets $2 bn commitment from global, local investors for infra projects

The National Investment and Infrastructure Fund has raised more than half of its $3.2 billion target from global and domestic investors, including AustralianSuper and Temasek

India's state-backed infrastructure fund has secured commitments ​worth $2 billion from global and ​domestic investors, representing more than half ‌of its new fund's $3.2 billion target, it said in a statement.

National Investment and Infrastructure Fund, India's sovereign-backed alternative asset firm, manages more than $7 billion in equity capital commitments across infrastructure, private markets and climate investments. The Indian government owns a ‌49% stake in the firm.

The investors in NIIF Infrastructure Fund II include marquee names such as AustralianSuper, CPP Investments, Ontario Teachers' Pension Plan, Temasek Holdings, ICICI Bank and HDFC Bank, according ​to the statement.

The fund will invest in core infrastructure sectors ‌such as energy, transport and digital infrastructure, while expanding ​into ‌emerging areas including urban infrastructure and electric mobility.

 

Separately, ‌NIIF expects to raise $950 million in co-investment capital, allowing investors to put ‌in ​more money for ​specific deals in the Indian infrastructure space, according to the statement.