Temasek to invest $400 million in NIIF

Published - September 06, 2018 03:44 pm IST - MUMBAI:

Singapore-based global investment firm Temasek has signed an agreement to invest up to $400 million in the National Investment and Infrastructure Fund (NIIF) of India with an option for co-investment with NIIF in the future.

As part of the agreement, Temasek will join the Government of India, Abu Dhabi Investment Authority (ADIA), HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as an investor in NIIF’s Master Fund and as a shareholder in National Investment and Infrastructure Limited, NIIF’s investment management company, said a NIIF statement.

Sujoy Bose, managing director & chief executive officer of NIIF, said: “We are delighted to have Temasek as an investor in the NIIF Master Fund and as a shareholder of National Investment and Infrastructure Limited, alongside other eminent institutional investors. Temasek is one of the most renowned institutional investors globally and will add to the roster of marquee investors backing NIIF.”

With this investment, NIIF Master Fund is now one of the largest infrastructure funds in India, and will continue to raise capital so that it can invest at the scale required for the large infrastructure requirements in India. NIIF’s Master Fund invests in core infrastructure sectors in India with a focus on transportation, energy and urban infrastructure, said the statement.

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