Singapore-based Temasek has invested USD 100 million in National Investment and Infrastructure Fund’s ‘Master Fund’ and the NIIF is fast evolving into a major investment vehicle, Economic Affairs Secretary Subhash Chandra said Thursday. “Welcome 100 million dollar investment by a Temasek company in NIIF today in the Master Fund. This completes second close of NIIF,” Garg tweeted. NIIF, created in 2015, has two operational funds – the ‘NIIF Master Fund’ that invests directly into companies and a ‘Fund of Funds’ that invests in funds that are managed by third parties.
It is also looking to launch a USD 2-billion long-term fund to finance various mega projects. “NIIF is fast evolving into a major investment vehicle for building infrastructure assets,” Garg said. In December 2015, the government had set up the NIIF, an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects.