The National Investment and Infrastructure Fund Ltd (NIIFL) has said, “It will invest $100 million from the New Development Bank (NDB) into the NIIF Fund of Funds (FoF).”
“The investment is aimed at supporting private capital investment in India at a time. When Indian companies are seeking much-needed equity to achieve their long-term growth,” NDB in a statement said.
Speaking on the investment, Sujoy Bose, Managing Director & CEO of NIIF said, “The Indian is well on the path to recovery from COVID-19 included slowdown, and India’s PE sector is expected to be a major provider of capital for the continued long term growth of the business.”
“The FoFs provides global institutional investors with an opportunity to build a diversified portfolio of growth investments through experienced Indian Fund managers. NDB’s commitment to the FoF demonstrates the confidence of global investors in NIIF’s goal of delivering returns while ensuring international standards of Environmental, Social, and Governance (ESG) practices,” he said.
“The investment also supports NDB and NIIF’s common goal of investing responsibly into several sectors that support India’s growth and economy,” the statement said.
Commenting on the development, Xian Zhu, VP & COO of NDB said, “The investment will offer India’s private sector with additional funds during the time of crisis, and will allow the bank to access to a diversified range of portfolio funds and support the Indian Government’s efforts to promote investment in infrastructure.”