The National Investment and Infrastructure Fund (NIIF) is planning to expand its master fund from $2.1 billion to $2.8 billion, Bloomberg reports.
The NIIF, India’s first sovereign wealth fund, runs three long-term funds, including a $2 billion master fund for key infrastructure sectors, a $2 billion road infrastructure fund and a strategic opportunities fund.
The master fund invests in operating assets in the core infrastructure sectors, such as roads, ports, airports and power.
The fund’s planned closing date has also been extended by a year, an anonymous official told Bloomberg.
In July, NIIF said it was planning to double its $1 billion fundraise. At that time, $200 million had been committed for the ports and logistics platform that is being operated along with Dubai Ports as part of the master fund. It was also scouting investments in road projects and planning future investments in rail and metro projects.
