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Asian Development Bank to invest $100 million in NIIF's fund of funds

Asian Development Bank to invest $100 million in NIIF's fund of funds

The Asian Development Bank (ADB) will invest $100 million into the National Investment and Infrastructure Fund (NIIF) of India’s Fund of Funds.

Key Points:

  • With the investment, the NIIF now has secured $700 million in commitments.
  • Asian Infrastructure Investment Bank(AIIB) and Government of India(GoI) are the other investors in the fund.
  • The Fund of Funds(FoF) will enhance the support to the Private Equity managers focussed on India.
  • NIIF FoF was set up in 2018 to create a vehicle that could provide private equity fund managers focussed on India with a go-to institutional investor operating at scale and based in India.
  • So far, FoF has made commitments to three funds that aggregate to more than Rs. 2,600 Crores.
  • The three Funds focus on various sectors ranging from middle-income and affordable housing; green energy and climate; to entrepreneur-driven mid-market growth companies operating across different industries.

Note:

  • Asian Development Bank (ADB) was founded on 19 December 1966 and is Headquartered at Mandaluyong in the Philippines.

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