New Development Bank (NDB) has committed $100 million to India’s National Investment and Infrastructure Fund’s (NIIF) Fund of Funds, reported livemint, sourcing two people aware of the development.
NIIF’s Fund of Funds has a $1 billion target and will invest in up to 10 private equity funds managed by fund managers in India. Its portfolio funds are expected to provide primarily growth capital to firms across sectors, including green infrastructure, affordable housing, manufacturing and services.
