The National Infrastructure and Investment Fund (NIIF) has received $2 billion in backing from two major pension systems for its master fund, media sources report.
AustralianSuper, Australia’s largest superannuation and pension fund, and the Ontario Teachers’ Pension Plan (OTPP) each committed $250 million to the India-based fund, along with co-investment rights of up to $750 million each in future opportunities alongside the master fund, according to Mint.
With the investments, the pension funds become shareholders in NIIF.
“We are delighted to welcome two of the world’s leading pension funds as investors in the NIIF master fund and as shareholders of National Investment and Infrastructure Fund, alongside other eminent investors,” said Sujoy Bose, managing director and CEO of NIIF.
“AustralianSuper and Ontario Teachers’ are among the most respected infrastructure investors in the world and bring considerable global perspective and value to NIIF.”
The NIIF is an investor-owned fund manager anchored by the Government of India, according to the firm’s website. The fund manages $3 billion in capital commitments across three funds, each with a distinct investment strategy.
The Master Fund invests primarily in operating assets in core infrastructure sectors, including roads, ports, airports, power and others.
