The National Investment and Infrastructure Fund (NIIF), India’s largest domestic infrastructure equity fund, has completed the fifth and final close of its Master Fund with $2.34 billion in equity commitments. The fund had a target size of $2.1 billion.
NIIF invests in operating assets in core infrastructure sectors, primarily transportation and energy. The fund has successfully anchored platforms in ports and logistics, renewable energy, smart meters and roads sectors.
The fund’s investors include the Government of India, Abu Dhabi Investment Authority, AustralianSuper, CPP Investments, Ontario Teachers’ Pension Plan, Temasek, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank.
The Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, U.S. International Development Finance Corp., the development finance institution of the United States federal government, and Axis Bank, an existing investor in the
