 "India’s NIIF aims to raise billion for infrastructure, marking a bold restart under new leadership after previous turmoil.")
The National Investment & Infrastructure Fund (NIIF) of India is planning to raise approximately $4 billion, aiming for its largest funding round yet. This initiative comes as part of the government’s effort to enhance the country’s infrastructure. The new fund is set to be significantly bigger than the last Master Fund, which concluded with $2.34 billion in December 2020. After facing internal challenges and a leadership change, NIIF has appointed Sanjiv Aggarwal as its new CEO. The fund manages over $4.9 billion in assets and is backed by major investors like the Abu Dhabi Investment Authority and Temasek Holdings. NIIF also has diverse funds targeting various sectors, including infrastructure and private equity investments.
Title: NIIF Aims for Record $4 Billion Fundraise to Boost India’s Infrastructure
Last Updated: September 05, 2024 | 10:00 AM IST
India’s National Investment and Infrastructure Fund (NIIF) is gearing up for its largest fundraising effort yet, targeting approximately $4 billion. This move comes at a time when the Indian government is intensifying its focus on upgrading the country’s infrastructure.
Sources reveal that NIIF, which is supported by both the Indian government and various global investors, plans to initiate this fundraising in early 2025. This ambitious target dwarfs its previous Master Fund, which raised $2.34 billion in December 2020. The new fundraising effort marks a fresh start for NIIF under its new CEO, Sanjiv Aggarwal, who joined the firm in February after a challenging phase for the organization.
NIIF manages over $4.9 billion in assets but faced challenges in its strategic direction and resource allocation with its major stakeholder, the Indian government. The organization is also eyeing additional fundraising for its private equity and private markets funds following this infrastructure-focused campaign.
NIIF is backed by notable investors, including the Abu Dhabi Investment Authority, AustralianSuper, and Singapore’s Temasek Holdings, alongside major Indian banks like HDFC Bank, ICICI Bank, and Axis Bank. As part of this fundraising initiative, NIIF anticipates additional co-investment commitments from its partners.
With four separate funds targeting various asset classes, the Master Fund primarily focuses on infrastructure. Recent investments include iBUS Network and Infrastructure Pvt, Ayana Renewable Power Pvt, and IntelliSmart Infrastructure Pvt, highlighting NIIF’s commitment to supporting innovative infrastructure solutions in India.
For more updates on India’s infrastructure investments and the latest developments at NIIF, stay tuned.
Tags: NIIF, Infrastructure Fund, India Investment, Fundraising, Sanjiv Aggarwal, Infrastructure Development, Investment News
What is ADIA-backed NIIF planning to do?
ADIA-backed NIIF is looking to raise $4 billion to invest in infrastructure projects.
Why is this fundraising significant?
This fundraising is considered the largest-ever in the infrastructure sector, highlighting strong interest in infrastructure investment.
How will the raised funds be used?
The funds will be used to develop and improve infrastructure projects, which can include transportation, energy, and urban development.
Who is involved in this fundraising effort?
The effort involves the Abu Dhabi Investment Authority (ADIA) and the National Investment and Infrastructure Fund (NIIF) of India.
What impact could this have on the economy?
This investment could lead to job creation, improved infrastructure, and overall economic growth in the regions where these projects are implemented.
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