National Investment and Infrastructure Fund, a sovereign-anchored alternative asset manager, has announced the first closure of NIIF Infrastructure Fund II at ₹19,000 crore. The fundraise represents over 60 per cent of the targeted ₹30,000 crore under NIIF’s investment strategy.
The issue attracted investment from global institutions including AustralianSuper; CPP Investments; a wholly owned subsidiary of the Abu Dhabi Investment Authority; Ontario Teachers’ Pension Plan; and Temasek; alongside leading Indian institutions including ICICI Bank, HDFC Bank, Axis Bank, Kotak Life Insurance and HDFC Life Insurance.
Alongside the Fund, NIIF expects to mobilise about ₹9,000 crore in co-investment capital, enabling investors to participate at scale in select transactions as a partner of choice for institutional capital seeking exposure to Indian infrastructure.
Infrastructure Fund II will continue to invest across core infrastructure sectors including energy, transport and digital infrastructure, while expanding into emerging themes such as urban infrastructure and electric mobility.
Infrastructure Fund II builds on NIIF’s first infrastructure fund, which raised ₹16,000 crore and has invested across renewables, transmission, distribution, battery storage, roads, ports and logistics, airports, data centres and smart metering.
Sanjiv Aggarwal, Managing Director & CEO, NIIF said the Infrastructure Fund II reflects continued confidence of partners in India’s infrastructure opportunity and in NIIF’s ability to deploy long-term capital with discipline, sector expertise and strong governance.
India’s infrastructure build-out is creating opportunities at scale, and NIIF is well positioned to connect global and domestic institutional capital with high-quality businesses, he said.
Vinod Giri, Managing Partner, Infrastructure, NIIF said the second infrastructure fund builds on the strong performance and operating capabilities established through the first fund.
“We will continue to create infrastructure platforms at scale, take a hands-on approach to value creation and invest selectively across both established and emerging infrastructure sectors,” he said.