India’s quasi-sovereign fund is a case of ‘heads I win, tails you lose’
The post India’s quasi-sovereign fund is a case of ‘heads I win, tails you lose’ appeared first on The Ken .
India's National Investment and Infrastructure Fund (NIIF), a Rs 48,000 crore fund established a decade ago, has met a significant milestone by achieving six clean exits. However, the nature of these exits reveals a peculiar pattern - the fund's buyers are often its own investors, resulting in a situation where the NIIF is designed to never lose money.
Despite the government holding only a 49% stake, the remaining investors include prominent entities such as Abu Dhabi's AIDA, Singapore's Temasek, Canadian pension funds, and Indian banks like SBI, ICICI Bank, and HDFC Group. The NIIF's mission is to attract both domestic and foreign investment into large-scale, long-term infrastructure projects that private capital is hesitant to fund without government guarantees.
The fund has successfully exited multiple projects, including Aseem Infrastructure Finance, Ayana Renewable Power, Athaang Infrastructure, Intellismart Infrastructure, Manipal Hospitals, and a partial stake in Ather Energy.
Written by urgent.news from The Ken's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
