India’s National Investment & Infrastructure Fund (NIIF), a quasi-sovereign fund backed by the Indian government and global investors, plans to raise $4 billion in its largest fundraising effort yet. The move aligns with the government’s push to upgrade infrastructure across the country. NIIF, which manages over $4.9 billion in assets, aims to launch the fundraising early next year as part of its strategy to expand its infrastructure portfolio.
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- NIIF plans to raise $4 billion, its largest fundraising to date.
- The fundraising aligns with India’s infrastructure upgrade drive.
- NIIF is backed by the Indian government and global investors such as Abu Dhabi Investment Authority and Temasek Holdings.
- The new fund will be larger than the 2020 Master Fund, which raised $2.34 billion.
- NIIF is also raising capital for its private markets fund alongside the infrastructure fund.
- The firm faced challenges over resource allocation and leadership changes in 2022.
- Sanjiv Aggarwal, an infrastructure expert, was appointed as CEO in February 2023.
- NIIF manages over $4.9 billion in assets across four funds.
- Key investments include iBUS Network, Ayana Renewable Power, and IntelliSmart Infrastructure.
- The Master Fund is also a stakeholder in Athaang Infrastructure, which plans to sell toll road assets.
