India’s State-Backed Infra Fund Secures $2 Billion from Global, Domestic Investors

India’s state-backed National Investment and Infrastructure Fund (NIIF) has secured $2 billion in commitments from global and domestic investors for its new infrastructure fund, crossing more than half of its $3.2 billion target. NIIF, which manages over $7 billion in equity commitments, is 49% owned by the Indian government.

Investors in NIIF Infrastructure Fund II include major global institutions such as AustralianSuper, CPP Investments, Ontario Teachers’ Pension Plan and Temasek Holdings, along with Indian lenders ICICI Bank and HDFC Bank. The fund will focus on core infrastructure sectors including energy, transport and digital infrastructure.

NIIF also plans to expand into emerging areas such as urban infrastructure and electric mobility. Separately, it expects to raise another $950 million in co-investment capital, giving investors opportunities to participate in specific infrastructure projects across India.

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