- 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 only sovereign wealth fund.
- 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
- A fund focused on creating scalable sectoral platforms in core infrastructure and in collaboration with strong and reputed operating and financial partners.
- Fund of Funds
- A fund focused on anchoring and investing in credible and reputed third party managers with a strong track record across diversified sectors within infrastructure services and allied sectors.
- Strategic Fund
- A fund focused on investing in strategic assets and projects with a longer term horizon across various stages of development.
- Master Fund
Why in News?
- The government has announced that it will infuse Rs 2,000 crore as equity in a debt platform of the National Investment and Infrastructure Fund (NIIF) in the current financial year.
- This is part of the Rs 6,000 crore announced by Finance Minister Nirmala Sitharaman under a stimulus package earlier this month.