Abu Dhabi Investment Authority has plans to invest $1 billion in India’s National Investment and Infrastructure Fund, making it its first institutional investor.
As part of the partnership agreement, ADIA will be a shareholder in National Investment and Infrastructure, NIIF’s investment management company.
NIIF was set up in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector.
NIIF will invest in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
The corpus of the fund is proposed to be around Rs40,000 crore ($616.12 million), with the government investing 49 percent and the rest to be raised from third-party investors such as sovereign wealth funds, insurance and pension funds, and endowments.
