NIIF completes fund raise for $2.3 bn Master Fund in fifth and final round

PSP Investments, DFC of US, Axis Bank ink pact for $107 million cumulative commitment; International investors have rights to co-invest an additional $3 billion

National Investment and Infrastructure Fund Ltd (NIIF) has completed fund raising for its NIIF Master Fund, achieving a rupee equivalent size $2.34 billion.

The NIIF Master fund primarily invests in operating assets in core infrastructure sectors, primarily transportation and energy.

The Public Sector Pension Investment Board (PSP Investments) of Canada, US International Development Finance Corporation (DFC), and Axis Bank have inked pact for investments of about $107 million cumulatively with the NIIF Master Fund. International investors have rights to co-invest an additional $3 billion alongside the Fund.

These investments mark the fifth and Final Close of the NIIF Master Fund, NIIF said in