Indian infrastructure gets $1 billion boost
By Thomas Allen17 October 2017
A subsidiary of the Abu Dhabi Investment Authority (ADIA) has agreed to invest US$1 billion in India’s National Investment and Infrastructure Fund (NIIF).
Sponsored by the government of India, NIIF is a fund manager that aims to provide a platform for collaborative investment from international and Indian investors.
ADIA will become the first institutional investor in NIIF’s Master Fund, which is intended to facilitate the flow of foreign capital into India’s infrastructure sector.
Khadem Al Rumaithi, executive director of the Real Estate and Infrastructure Department at ADIA, said, “As a long-standing investor in India and in infrastructure globally, ADIA welcomes the opportunity to be the first to partner with NIIF in a platform that is sure to be of interest to other long-term institutional investors.”
ADIA will also become a shareholder in NIIF’s investment management company, National Investment and Infrastructure Limited.
Sujoy Bose, CEO of NIIF, said, “This agreement marks the culmination of an extensive process of collaboration with ADIA to develop an investment structure that is attractive to international investors while remaining closely aligned with the NIIF’s objectives.
”We are proud to have ADIA as our founding partner, and grateful for its support and contributions to date, and we now look forward to announcing further agreements with other investors.”