New Delhi, Jan 22: Making its first investment, National Investment
and Infrastructure Fund (NIIF) partnered with leading global operator of marine
and inland terminals, DP World, to create an investment platform for ports,
terminals, transportation and logistics businesses in India on Monday.
The platform will invest in opportunities in the
ports sector, and beyond sea ports into areas such as river ports and
transportation, freight corridors, port-led special economic zones, inland
container terminals, and logistics infrastructure including cold storage.The first close of the NIIF Master Fund took place on October 16 last year with contributions from a subsidiary of Abu Dhabi Investment Authority (ADIA) and four Domestic Institutional Investors (DIIs) -- HDFC Group, ICICI Bank, Kotak Mahindra Life and Axis Bank.
An India-UK Green Growth Equity Fund (GGEF) is also being set up under the fund of funds vertical of NIIF, and will have anchor commitments of GBP 120 million each from the Centre (through NIIF) and the UK Government.
Mr Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA), Ministry of Finance said, “NIIF, set up to function as a major platform in India for attracting foreign investments, has made good progress. We are pleased to learn of NIIF’s first investment to create an investment platform in the ports and logistics sector. Following its First Close in October 2017 on the fund-raising side, and now with its first investment, NIIF is making visible progress.’’
The NIIF is being operationalised by establishing three Alternative Investment Funds (AIFs) under the SEBI Regulations.
The proposed corpus of NIIF is Rs 40,000-crore (around USD 6 billion).
Centre’s contribution to the AIFs under the NIIF scheme will be 49 per cent of the total commitment. NIIF has mandate to solicit equity participation from strategic anchor partners, like overseas sovereign/quasi-sovereign/multilateral/bilateral investors. UNI
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