National Investment and Infrastructure Fund Limited (NIIF), India’s sovereign-anchored alternative asset manager, has secured an additional investment commitment of Rs 30,000 crore ($3.5 billion) from the Indian government, according to an announcement.
The latest commitment raises the government’s total allocation to NIIF to Rs 60,000 crore and will support the firm’s next phase of fundraising and investments, including its second infrastructure fund, it said.
The latest fund will target transportation, energy, digital infrastructure, urban infrastructure, and electric mobility, per the announcement.
The fund is a successor to NIIF’s domestic infrastructure fund and is expected to draw co-investments alongside the main vehicle.
NIIF said fundraising for Infrastructure Fund II has progressed substantially, with most existing investors expected to renew their commitments.
It also plans to launch new bilateral and successor fund strategies between fiscal years 2028 and 2030.
“We are grateful for this allocation of Rs 30,000 crore, which is a strong reaffirmation of government support to NIIF and reinforces the catalytic capital model that has defined NIIF since inception,” Sanjiv Aggarwal, NIIF’s Managing Director and Chief Executive, said in the statement.
The fund manager said it has returned about Rs 12,000 crore to investors through portfolio exits, equivalent to around half of the drawn capital.
Its investments span 25 entities across ports and logistics, renewable energy, roads and highways, digital infrastructure, healthcare, electric mobility, manufacturing, technology, and affordable housing.
“Over the past decade, GoI’s anchor commitment has enabled us to build a very strong institutional investor base, spanning leading sovereign wealth funds, pension funds, multilateral and bilateral institutions, and domestic financial institutions,” Aggarwal added.
NIIF manages more than $5 billion in equity commitments across four strategies: infrastructure, private markets, growth equity, and climate investments.
It also advises government departments and state entities on public-private partnership initiatives and investment ideas aimed at bringing in more private capital.
In March, NIIF said it secured commitments of up to $750 million for its Private Markets Fund II, which has a target size of $1 billion and succeeds NIIF’s $600 million Private Markets Fund I.
