NISHITH.TV
  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York

Locations

  • Mumbai
  • Silicon Valley
  • Bengaluru
  • Singapore
  • Mumbai BKC
  • New Delhi
  • Munich
  • New York
  • Content
  • Home
  • ABOUT US
  • NDA in the Media
  • Areas of Service
  • Research and Articles
  • Opportunities
  • Contact
  • NDACloud
  • Client Access
  • Member Access
  • Events and Calender
  • How we perform
  • Knowledge anywhere, anytime
  • See our recent deals
  • Up to date legal developments
  • Case studies in M&A

Deal Corner

HTMLPDF

August 8, 2019

National Investment and Infrastructure Fund (NIIF) obtains USD 2 billion from AustralianSuper and Ontario Teachers’ Pension Plan

DEAL BRIEF

NIIF Master Fund has signed investment agreements for its third closing with two of the leading global pension funds, namely AustralianSuper and Ontario Teachers’ Pension Plan, of cumulatively worth USD 2 billion (including co-investments). Further, two of the existing domestic financial institutional investors, HDFC Life and Kotak Life, have also signed updated documents to increase their existing commitments to the NIIF Master Fund respectively.

The total assets under management of NIIF Master Fund after the third closing would be the largest for an infrastructure fund in India of about USD 4 bn (including co-investments).

In the Union Finance Budget 2015-16 on February 28, 2015, the Finance Minister had announced the setting up of a National Investment and Infrastructure Fund with the Government’s contribution to the Fund to be 49% of the total commitments of the Fund. NIIF Master Fund is registered with Securities and Exchange Board of India (SEBI) as a Category II Alternate Investment Fund (AIF) under the SEBI (Alternative Investments Funds) Regulations, 2012, and will primarily focus on the infrastructure sector. The Fund could also consider investments into other commercially viable projects within the broader investment strategy of the Fund.

OUR ROLE

We, at Nishith Desai Associates, helped NIIF and Ministry of Finance set up the NIIF Master Fund and acted as the fund counsel and the transaction counsel to NIIF and advised on legal, structuring and regulatory aspects of the transaction including the negotiations and deal documentation for all the funding rounds.

PRESS COVERAGE

Press coverage relating to the Fund is available as follows:

https://economictimes.indiatimes.com/news/economy/finance/australiansuper-ontario-teachers-to-invest-2-bn-in-niif/articleshow/70547872.cms

https://www.thehindu.com/business/Industry/australiansuper-ontario-teachers-pension-plan-to-invest-2-billion-through-niif/article28832786.ece

https://www.livemint.com/companies/news/niif-master-fund-raises-2-billion-from-australian-canadian-pension-funds-1565080722848.html

https://www.business-standard.com/article/economy-policy/australiansuper-ontario-teachers-to-invest-1-bn-each-in-india-s-niif-fund-119080600670_1.html

https://www.vccircle.com/niif-gets-2-bn-commitment-from-australian-canadian-pension-funds/

Mission and Vision


Distinctly Different

What's New


Evertech Exits Acqueon Technologies
Deal Corner: February 03,2023
Budget tax proposal may hit investor returns in REITs
Quotes : February 03,2023

Events


Webinars

Union Budget 2023: Key Takeaways
February 03,2023 - February 03,2023

This event is over. For event material please click here


Seminar

The Critical Role of Global Asset Discovery in The Dispute Lifecycle
February 20,2023 - February 20,2023

Round Table

Investing In Net Zero
July 22,2022 - July 22,2022

This event is over. For event material please click here

News Roundup


News Articles

Shareholder Activism: An ESG tool or a Founder’s curse?
October 13,2022

Quotes

Budget tax proposal may hit investor returns in REITs
February 03,2023

Newsletters


Tax Hotline

India Budget 2023: Growing the economy!
February 02,2023

Corpsec Hotline

SEBI's Comprehensive Framework on Offer for Sale Through Stock Exchanges
January 20,2023

Funds Hotline

AIF participation in Credit Default Swaps
January 20,2023

  • Disclaimer
  • Content
  • Feedback
  • Walkthrough
  • Subscribe
Nishith Desai Associates@2016 All rights reserved.