National Investment and Infrastructure Fund (NIIF)

National Investment and Infrastructure Fund (NIIF)

why in news?

 The government’s National Investment and Infrastructure Fund (NIIF) is in talks with private equity firm Everstone Group for a tie-up to manage its Green Growth Equity Fund (GGEF).

About GGEF:

• The Green Growth Equity Fund will be the second investment platform to be set up by NIIF.
• GGEF, which will invest in renewable energy assets, is a joint venture between NIIF and the UK government.
• GGEF would be managed by a third-party investment manager, selected by NIIF Limited and the UK governmentthrough an efficient and robust screening and selection process.

About NIIF:

• NIIF was set up in 2015 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects in the infrastructure sector.
• NIIF will invest in areas such as energy, transportation, housing, water, waste management and other infrastructure-related sectors in India.
• The corpus of the fund is proposed to be around Rs40,000 crore, with the government investing 49% and the rest to be raised from third-party investors such as sovereign wealth funds, insurance and pension funds, endowments etc.
• NIIF’s strategy includes anchoring equity, quasi-equity and debt funds in partnership with investors targeting investments across the relevant sectors in India.

Sources: the hindu.