NDB to invest $100 Million into NIIF Fund of Funds
The New Development Bank (NDB) has announced to invest $100
million into the NIIF Fund of Funds (FoF).
With the NDB’s investment of $100 million, the NIIF FoF has
now secured $800 million in commitments.
NDB has joined the Asian Infrastructure Investment Bank
(AIIB), Government of India (GoI) and Asian Development Bank (ADB) as an
investor in the NIIF FoF.
The investment by the NDB is the first equity investment by
it into India. It is also the first-ever investment into a Fund of Funds by the
NIIF Fund of Funds (FoF):
The FoF was established in the year 2018. It was established
with the objective of providing the access of the homegrown Indian private
equity fund managers to the institutional investor that operates at scale with
focus on India.
The FOF has made commitments to four funds till date. The
aggregate commitment stands over Rs.2,750 crore.
National Investment and Infrastructure Fund (NIIF): A Fact File
It is India’s first infrastructure specific investment fund.
It is also called as a sovereign wealth fund.
This fund was set up by the
Government of India in February 2015.
It was set up with the objective of
maximizing the economic impact through infrastructure investment in both
Greenfield and Brownfield projects which are commercially viable.
New Development Bank (NDB):
It was earlier known as the BRICS Development Bank.
NDB is a
multilateral development bank that was established by the BRICS nations namely,
Brazil, Russia, India, China and South Africa.
The bank supports the public or
private projects through loans, guarantees and equity participation.