NIIF marks final close of master fund, rolls out new vehicle

National Investment and Infrastructure Fund Limited (NIIF) has marked the final close of its NIIF Master Fund at $2.34 billion (Rs 172.93 billion) after receiving commitments from the fifth set of limited partners. Canadian pension fund Public Sector Pension Investment Board (PSP Investments), the US International Development Finance Corporation (DFC), and existing investor Axis Bank signed agreements with the NIIF Master Fund for investments of around $107 million (about Rs 7.9 billion). International investors have the right to co-invest an additional $3 billion alongside the fund. DFC and PSP will join other investors of the fund as shareholders of NIIF Limited. These investments mark the fifth and final close of the fund at $2.34 billion, exceeding the target of $2.1 billion.

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