The National Investment and Infrastructure Fund said Singapore-based Temasek has agreed to invest up to $400 million (around Rs 2,750 crore), which may include future potential co-investments with NIIF.
As part of the agreement, Temasek will join the government, Abu Dhabi Investment Authority, HDFC group, ICICI Bank, Kotak Mahindra Life Insurance and Axis Bank as an investor in NIIF's Master Fund and as a shareholder in National Investment and Infrastructure, NIIF's investment management company, NIIF managing director and chief executive officer Sujoy Bose told reporters today.
“We are delighted to have Temasek as an investor in NIIF Master Fund and as a shareholder of National Investment and Infrastructure LTD, along with other institutional investors,” he said.
NIIF, created in 2015, has two operational funds - the NIIF Master Fund that invests directly in companies and a fund of funds that invests in funds that are managed by third parties.
It is also looking to launch a $2-billion long-term fund to finance various mega projects.
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