ADIA will become the first institutional investor in NIIF

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  • Pursuant to the Memorandum of Understanding (MoU) between Department of Economic Affairs, Ministry of Finance, Government of India and the Government of United Arab Emirates (UAE) to mobilise long term investment into National Investment and Infrastructure Fund (NIIF), the first investment agreement between NIIF Master Fund and a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA) has been signed.
  • As a part of the agreement, ADIA will become the first institutional investor in NIIF’s Master Fund and a shareholder in the NIIF’s investment management Company.

Background:

  • The NIIF was created, after a decision by the Union Cabinet on 29.7.2015 and was envisaged to be established as one or more Alternative Investment Funds (AIFs) under the SEBI Regulations.
  • NIIF has been mandated to solicit equity participation from strategic anchor partners, like overseas sovereign/quasi-sovereign/multilateral/bilateral investors.

Source:PIB