investment platform for private sector participation in Development of Ports,
Container Terminals, Transportation and Logistics Businesses in the country has
been launched by the National
Investment and Infrastructure Fund (NIIF) in partnership with a Global
Container Terminal Major DP World. The newly created Fund made the first
investment for launching this platform according to an official release.
NIIF has partnered with DP World to create an
investment platform for ports, terminals, transportation and logistics
businesses in India. The platform will invest in opportunities in the ports
sector, and beyond sea ports into areas such as river ports and transportation,
freight corridors, port-led special economic zones, inland container terminals,
and logistics infrastructure including cold storage.
The first close of the NIIF Master Fund took place on
October, 16, 2017 with contributions from a subsidiary of Abu Dhabi Investment
Authority (ADIA) and four Domestic Institutional Investors (DIIs), viz., HDFC
Group, ICICI Bank, Kotak Mahindra Life and Axis Bank.
An India-UK Green Growth Equity Fund (GGEF) is also being
set-up under the fund of funds vertical of NIIF, and shall have anchor
commitments of GBP 120 million each from Government of India (through NIIF) and
Government of UK.
Mr Subhash Chandra Garg, Secretary, Department of Economic
Affairs (DEA), Ministry of Finance said, “NIIF, set-up to function as a major
platform in India for attracting foreign investments, has made good progress.
We are pleased to learn of NIIF’s first investment to create an investment
platform in the ports and logistics sector. Following its First Close in
October 2017 on the fund-raising side, and now with its first investment, NIIF
is making visible progress.’’
NIIF is being operationalized by establishing three Alternative Investment
Funds (AIFs) under the SEBI Regulations. The proposed corpus of NIIF is Rs.
40,000 Crores (around USD 6 Billion). GOI’s contribution to the AIFs under the
NIIF scheme shall be 49% of the total commitment. NIIF has mandate to solicit
equity participation from strategic anchor partners, like overseas