NIIF makes equity investment of Rs 4.7k cr in five years

28 Jan 2021 CW Staff

In its five years of existence, the National Investment and Infrastructure Fund (NIIF) has made an equity investment of less than Rs 5,000 crore in infrastructure projects, media sources say.

The Rs 40,000 crore NIIF was set up in December 2015 to enhance infrastructure financing by investing in brownfield (existing), greenfield (new), and stalled projects.

According to sources, NIIF has made an equity investment of Rs 4,689 crore, while its partners' co-investment stood at about Rs 7,053 crore at the end of September 2020. The quasi-sovereign wealth fund's total equity investment along with partners stood at Rs 11,742 crore as of September 2020. Simultaneously, the long-term debt investment was at Rs 7,935 crore, taking aggregate investment to the tune of Rs 19,677 crore.

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Set up as a Category II Alternative Investment Fund (AIF), the NIIF currently manages three funds with distinct strategies Master Fund, Strategic Opportunities Fund and Fund of Funds. NIIF's total assets under management (AUM) is at over Rs 32,171 crore across the three funds, as per the latest data provided by the NIIF.

As far as the road sector is concerned, NIIF has taken the brownfield route to enter the division following Essel Dichpally Tollway and Essel Devanahalli Tollway's acquisition last year. The acquisition was made through the NIIF Master Fund.

Also read: Equity infusion worth Rs 6,000 crore into NIIF on cards

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