National Investment and Infrastructure Fund(NIIF)

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News:Union Finance minister has chaired the governing council meeting of National Investment and Infrastructure Fund(NIIF).

Facts:

About NIIF:

  • NIIF is India‚Äôs first sovereign wealth fund set up by the government of India in 2015.It is a fund manager that invests in infrastructure and related sectors in India.
  • It was created with the objective to maximise economic impact especially by infrastructure investment in commercially viable projects.
  • The Indian government has a 49% stake in NIIF with the rest held by foreign and domestic investors.
  • NIIF currently manages three funds each with its distinctive investment mandate. The funds are registered as Alternative Investment Fund (AIF) with the Securities and Exchange Board of India (SEBI).

About the three funds:

  • Master Fund:The Master Fund is an infrastructure fund with the objective of primarily investing in operating assets in the core infrastructure sectors such as roads, ports, airports, power etc.
  • Funds of Funds:Fund of Funds anchor and/or invest in funds managed by fund managers who have good track records in infrastructure and associated sectors in India.Some of the sectors of focus include Green Infrastructure, Mid-Income & Affordable Housing, Infrastructure services and allied sectors.
  • Strategic Investment Fund:Strategic Investment Fund is registered as an Alternative Investment Fund II under SEBI in India.