About NIIF

• • National Investment and Infrastructure Fund (NIIF) is an Indian-government backed entity established in 2016 to provide long-term capital to the country’s infrastructure sector. 
  • The Indian government has 49 per cent stake in NIIF with the rest held by foreign and domestic investors. NIIF is India’s first sovereign wealth fund.

• Sovereign Wealth Funds (SWFs) are pools of assets owned and managed directly or indirectly by governments to achieve national objectives.

• • NIIF got registered with SEBI as a Category II Alternative Investment Fund (AIF). 

• AIFs are private funds which are otherwise not coming under the jurisdiction of any regulatory agency in India. In India, AIFs are regulated by the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.

• NIIF currently manages three funds each with its distinctive investment mandate.
  • Master Fund
    • It primarily invests in operating assets in core infrastructure sectors such as transportation and energy. 
  • Fund of Funds
    • It invests in funds managed by best-in-class fund managers focused on some of the most dynamic sectors in India such as climate infrastructure, middle-income & affordable housing, digital consumer platforms and other allied sectors. 
  • Strategic Fund
    • It is a Private Equity fund which aims to build scalable businesses across a range of opportunity long but capital short sectors.

Why in News?

• Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired the 5th meeting of the Governing Council (GC) of National Investment and Infrastructure Fund (NIIF), in New Delhi.

reference:

https://pib.gov.in/PressReleasePage.aspx?PRID=1876791