Strategic Investment Fund under NIIF

Strategic Investment Fund under NIIF
As on date, three funds have been established by the Government under the NIIF platform and registered with SEBI as Category II Alternative Investment Funds and National Investment and Infrastructure Fund II (“Strategic Fund”) is one of those three funds. The other two funds are National Investment and Infrastructure Fund (or Master Fund) and NIIF Fund of Funds – I.

The objective of National Investment and Infrastructure Fund II (“Strategic Fund”) is to invest largely in equity and equity-linked instruments. The Strategic Fund will focus on green field and brown field investments in the core infrastructure sectors.

The NIIF Funds work on a model whereby equity participation from strategic partners (including overseas sovereign / quasi-sovereign / multilateral / bilateral investors) is invited, alongside Government’s contribution. Government’s contribution / share in the corpus will be 49% in each entity set up as an AIF and will neither be increased beyond, nor allowed to fall below 49%. The whole of 49% would be contributed by the Government of India directly.

NIIF Fund of Funds-I’s first investment has been in the Green Growth Equity Fund (GGEF). Department for International Development (DFID), an arm of the UK government, has committed to invest GBP 120 million (equivalent to INR 1,080 crore) in GGEF and NIIF Fund of Funds-I also committed to invest an equivalent amount.

This was stated by Shri Pon. Radhakrishnan, Minister of State for Finance in a written reply to a question in Lok Sabha today.

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