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).

Highlights

  • 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 NDB.

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 ₹2,750 crore.

National Investment and Infrastructure Fund (NIIF)

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.

Asian Infrastructure Investment Bank (AIIB)

This bank was established with the aim to improve the economic and social outcomes in the Asia region. It currently has 103 members and 21 prospective members from across the world. The bank started operation on December 25, 2015.

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