Asian Development Bank to invest $100 million in NIIF's fund of funds

Asian Development Bank (ADB) will now join the Government of India (GOI) and Asian Infrastructure Investment Bank (AIIB) as an investor in one of the instruments of National Investment and Infrastructure Fund (NIIF) of India. 

ADB will invest $100 million equivalent in the NIIF Fund of Funds (FoF). With ADB’s investment into the NIIF platform, the FoF has now secured $700 million in commitments.

NIIF's FoF is targeted at India-focused PE fund managers who rely on international investors for large-scale fundraising as domestic institutions such as Indian pension funds and insurance companies have not been significant investors in PE funds.