Temasek commits $400 million to National Investment and Infrastructure Fund

Singapore state investment firm Temasek Holdings has signed an agreement to invest up to $400 million (Rs 27.5 billion) in the Master Fund of the National Investment and Infrastructure Fund (NIIF). Temasek’s commitment may include potential co-investments with the government-anchored fund. Temasek’s investment has helped the Rs 140 billion Master Fund mark its second closure. Temasek joins the Abu Dhabi Investment Authority, the HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as an investor in the Master Fund and a shareholder in NIIF Limited, NIIF’s investment management firm.