ADIA to invest $1 billion in NIIF

ADIA, the sovereign wealth fund of the Gulf emirate, has agreed to invest $1 billion (Rs 64.7 billion) in the National Investment and Infrastructure Fund’s (NIIF) Master Fund. ADIA will become the first institutional investor in the NIIF’s Master Fund and a shareholder in National Investment and Infrastructure Limited, NIIF’s investment management company. The government has committed around Rs 200 billion ($3 billion) for the fund, or about 49 per cent of the total target corpus of Rs 400 billion. The corpus will be managed by NIIF Limited through one or more funds to be set up in partnership with other partners.

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