ADIA signs $1bn investment deal with India's NIIF

51 percent of the NIIF will be offered to international investors
ADIA becomes first institutional investor in India's NIIIF
By Bernd Debusmann Jr
Tue 17 Oct 2017 08:49 AM

India’s National Investment and Infrastructure Fund (NIIF) has announced a $1 billion investment agreement with the Abu Dhabi Investment Authority (ADIA).

As part of the agreement, ADIA will become the first institutional investor in NIIFs master fund and a shareholder in its investment management company, National Investment and Infrastructure Ltd.

The proposed corpus of the NIIF is proposed at $6 billion, of which 49 percent is to come from the Indian government, with 51 percent being offered to long-term international investors.

Amon the infrastructure areas NIIF is targeting are housing, water, waste management and energy.

“This agreement marks the culmination of an extensive process of collaboration with ADIA to develop an investment structure that is attractive to international investors will remaining closely aligned with the NIIF’s objectives,” said NIIF CEO Sujoy Bose. “We are proud to have ADIA as our founding partner and we now look forward to announcing further agreements with other investors.”

Khadem Al Remeithi, executive director of the real estate and infrastructure department at ADIA, said the NIIF “is set to play an important role in facilitating the flow of foreign capital into India’s infrastructure sector.”

“As a long-standing investor in India and in infrastructure globally, ADIA welcomes the opportunity to be the first to partner with NIIF in a platform that is sure to be of interest to other long-term institutional investors,” he added.

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