India’s sovereign wealth fund
Setup on Feb-2015 under ministry of finance.
OBJECTIVES:
- Maximize economic impact through infrastructure investment in both greenfield and brown field projects.
- Atmanirbhar Bharat.
It is an organ of NITI AYOG. Total assets under management are 4.3 Billion US dollars.
CEO of NIIF:
Sujoy Bose
3 funds of NIIF:
- Master Fund: Investment in core infrastructure projects like roads, airports and ports.
- Funds of funds: Fund managed by fund managers on infrastructure and associated projects.
- Strategic funds: Alternative fund invested in equities and related instruments.
Investors in NIIF:
- HDFC
- AXIS BANK
- ICICI BANK
- KOTAK MAHINDRA BANK
- ASIAN INFRASTRUCTURE INVESTMENT BANK
- NEW DEVELOPMENT BANK