AustralianSuper, Ontario Teachers to invest $1 bn each in India's NIIF fund

AustralianSuper, Australia's largest superannuation fund, and Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, have signed agreements to invest up to $1 billion each in the NIIF Master Fund, said the National Investment and Infrastructure Fund (NIIF) on Tuesday.

The two fund managers committed $250 million each in the Master Fund and co-investment rights of up to $750 million each in future opportunities alongside the NIIF Fund.

This marks the third close of the NIIF Master Fund. AustralianSuper and Ontario Teachers' will now join the India government, Abu Dhabi Investment Authority (ADIA), Temasek, HDFC Group, ICICI Bank, Kotak Mahindra Life Insurance