Latest news with #PMFII
Economic Times
3 days ago
- Business
- Economic Times
NIIF to make a $700-million first closure of $1 billion Private Markets Fund II
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The National Investment and Infrastructure Fund NIIF ), a quasi-sovereign investment manager backed by the Centre, is set to complete a $700-million first closure of its latest Private Markets Fund (PMF II) within the next month, according to sources familiar with the initial close marks a significant increase compared with the debut fund, PMF I, which raised $600 million in week, the New Development Bank (NDB), a Shanghai-based multilateral development bank established by the BRICS nations—Brazil, Russia, India, China, and South Africa—committed $100 million to PMF II. The Asian Infrastructure Investment Bank (AIIB), which had backed PMF I, also reaffirmed its support with a $125 million commitment in government will remain the single largest investor in PMF II, contributing 49% of the total first reported in April last year about the launch of $1-billion PMF Private Markets Fund is dedicated to supporting India-focused private equity and venture capital funds. With a target size of $1 billion, PMF II aims to invest across key growth sectors, including electric vehicle (EV) infrastructure, waste management, urban and social infrastructure, technology, manufacturing, and their associated supply the structure of PMF I, PMF II plans to build a diversified portfolio comprising approximately 15 funds as well as direct investments in companies. About 75% of the fund's capital will be allocated to growth and venture capital funds, with the remaining 25% invested directly into Indian enterprises, added its inception, PMF I has deployed $600 million across 60 companies through nine portfolio funds. It has backed notable funds such as Multiples PE (owned by Renuka Ramnath), Lighthouse India, Invascent, Eversource Capital, Somerset Healthcare, Arpwood Partners, Yournest Capital Advisors, HDFC Capital Advisors, and Amicus Capital year, GoI had appointed Sanjiv Aggarwal as Chief Executive Officer & Managing Director. Agarwal, a former Partner at UK's infrastructure fund Actis, replaced Sujoy Bose, first managing director & chief executive officer of Private Markets Fund is headed by managing partner Anand Unnikrishnan, who joined NIIF in 2018. Prior to joining NIIF, Anand was a senior member of Macquarie Infrastructure and Real Assets (MIRA) team in India for about 10 contacted, an NIIF spokesperson declined to NIIF manages over $4.9 billion in equity commitments across four distinct funds: the Master Fund (infrastructure), Private Markets Fund (fund of funds), Strategic Opportunities Fund (growth equity), and India-Japan is also launching its Master Fund II in a couple of months, targeting a commitment of about $4 investor base comprises a diverse group of sovereign wealth funds, pension funds, multilateral development banks, and government counterparts. Prominent backers include the Abu Dhabi Investment Authority (ADIA), Singapore's Temasek, Australian Super, Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board (CPPIB), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), New Development Bank (NDB), and the Japan Bank for International Cooperation (JBIC).
Time of India
3 days ago
- Business
- Time of India
NIIF to make a $700-million first closure of $1 billion Private Markets Fund II
The National Investment and Infrastructure Fund ( NIIF ), a quasi-sovereign investment manager backed by the Centre, is set to complete a $700-million first closure of its latest Private Markets Fund (PMF II) within the next month, according to sources familiar with the development. This initial close marks a significant increase compared with the debut fund, PMF I, which raised $600 million in 2019. This week, the New Development Bank (NDB), a Shanghai-based multilateral development bank established by the BRICS nations—Brazil, Russia, India, China, and South Africa—committed $100 million to PMF II. The Asian Infrastructure Investment Bank (AIIB), which had backed PMF I, also reaffirmed its support with a $125 million commitment in May. The government will remain the single largest investor in PMF II, contributing 49% of the total capital. ET first reported in April last year about the launch of $1-billion PMF II. Live Events The Private Markets Fund is dedicated to supporting India-focused private equity and venture capital funds. With a target size of $1 billion, PMF II aims to invest across key growth sectors, including electric vehicle (EV) infrastructure, waste management, urban and social infrastructure, technology, manufacturing, and their associated supply chains. Mirroring the structure of PMF I, PMF II plans to build a diversified portfolio comprising approximately 15 funds as well as direct investments in companies. About 75% of the fund's capital will be allocated to growth and venture capital funds, with the remaining 25% invested directly into Indian enterprises, added sources. Since its inception, PMF I has deployed $600 million across 60 companies through nine portfolio funds. It has backed notable funds such as Multiples PE (owned by Renuka Ramnath), Lighthouse India, Invascent, Eversource Capital, Somerset Healthcare, Arpwood Partners, Yournest Capital Advisors, HDFC Capital Advisors, and Amicus Capital Partners. Last year, GoI had appointed Sanjiv Aggarwal as Chief Executive Officer & Managing Director. Agarwal, a former Partner at UK's infrastructure fund Actis, replaced Sujoy Bose, first managing director & chief executive officer of NIIF. The Private Markets Fund is headed by managing partner Anand Unnikrishnan, who joined NIIF in 2018. Prior to joining NIIF, Anand was a senior member of Macquarie Infrastructure and Real Assets (MIRA) team in India for about 10 years. When contacted, an NIIF spokesperson declined to comment. Overall, NIIF manages over $4.9 billion in equity commitments across four distinct funds: the Master Fund (infrastructure), Private Markets Fund (fund of funds), Strategic Opportunities Fund (growth equity), and India-Japan Fund. NIIF is also launching its Master Fund II in a couple of months, targeting a commitment of about $4 billion. NIIF's investor base comprises a diverse group of sovereign wealth funds, pension funds, multilateral development banks, and government counterparts. Prominent backers include the Abu Dhabi Investment Authority (ADIA), Singapore's Temasek, Australian Super, Ontario Teachers' Pension Plan, Canada Pension Plan Investment Board (CPPIB), Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), New Development Bank (NDB), and the Japan Bank for International Cooperation (JBIC).
Business Standard
10-06-2025
- Business
- Business Standard
Finance Minister chairs review meeting of National Investment and Infrastructure Fund Limited
Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman chaired the 6th meeting of the Governing Council (GC) of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi, yesterday. The GC appreciated that both Master Fund and Private Markets Fund are already 100% committed and that a part of Master Fund investments have gone into creation of greenfield assets in areas such as ports and logistics, airports, and data centres. The GC took note of progress on NIIFs upcoming Private Markets Fund II which has a target corpus of $1 billion, and appreciated the fact that PMF II has successfully onboarded private investors in line with the earlier GC guidance and is set for its first closing shortly. The GC was also informed about the proposed bilateral Fund currently under discussion with USA. Guidance was also provided on aspects related to strategy, successful fund raising, timely operationalisation and effective deployment.
&w=3840&q=100)
Business Standard
09-06-2025
- Business
- Business Standard
Governing Council urges NIIF to boost global presence, adopt new strategy
The Governing Council (GC) on Monday advised the National Investment and Infrastructure Fund Limited (NIIF) to leverage its sovereign-backed design and emphasised the need to professionally showcase its role and performance on the global stage and within the international investor community. 'The team at NIIF was advised to have a proactive approach to fund-raising and the need to explore diversified sources of financing. The GC expressed its confidence in an enhanced role for NIIF going forward and advised that the meeting be held annually,' said the finance ministry statement. Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, chaired the sixth meeting of the Governing Council (GC) of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi. The meeting was also attended by Ajay Seth, Finance Secretary and Secretary, Department of Economic Affairs (DEA); M. Nagaraju, Secretary, Department of Financial Services (DFS); Anuradha Thakur, OSD (DEA); C.S. Setty, Chairman, State Bank of India; and Uday Kotak, Founder and Director, Kotak Mahindra Bank. Moreover, the GC took note of progress on NIIF's upcoming Private Markets Fund II, which has a target corpus of $1 billion, and appreciated the fact that PMF II has successfully onboarded private investors — in line with earlier GC guidance — and is set for its first closing shortly. The GC was also informed about the proposed bilateral fund currently under discussion with the United States. Guidance was provided on aspects related to strategy, successful fund-raising, timely operationalisation and effective deployment. The GC appreciated that both the Master Fund and the Private Markets Fund are already 100 per cent committed and that part of the Master Fund's investments has gone into the creation of greenfield assets in areas such as ports and logistics, airports and data centres. The Governing Council appreciated NIIF's evolution as a sovereign-linked asset manager and acknowledged its sustained efforts in building strong partnerships with marquee global investors, including sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA) and Temasek; pension funds such as AustralianSuper, Ontario Teachers' Pension Plan and the Canada Pension Plan Investment Board (CPPIB); multilateral development banks including the Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB) and New Development Bank (NDB); as well as strategic government institutions such as the Japan Bank for International Cooperation (JBIC). Recognising NIIF's expanding role in mobilising capital into infrastructure and other priority sectors of the Indian economy, the GC appreciated its performance and took note of the growth in its assets under management, which now exceed Rs 30,000 crore, while catalysing capital of Rs 1,17,000 crore. 'The Council was also briefed on NIIF's overall strategy, sectoral focus, investment progress and future roadmap across its four active funds: the Master Fund for infrastructure, the Private Markets Fund (Fund of Funds), the India-Japan Fund focused on climate and sustainability, and the Strategic Opportunities Fund aimed at growth equity,' said the finance ministry statement.
Time of India
09-06-2025
- Business
- Time of India
FM asks NIIF to leverage its sovereign-backed design, explore diversified finance sources
Finance Minister Nirmala Sitharaman on Monday asked the National Investment and Infrastructure Fund (NIIF) to leverage its sovereign-backed design to showcase its performance at the global stage. Chairing the 6th meeting of the Governing Council (GC), Sitharaman exhorted the NIIF to have a proactive approach to fundraising and the need to explore diversified sources of financing, the finance ministry said in a statement. The Rs 40,000-crore NIIF was set up in December 2015 as an institution to enhance infrastructure financing by investing in greenfield, brownfield and stalled projects. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's What A New Gutter System Should Cost You In Illinois Gutters System US Learn More Undo The quasi-sovereign wealth fund's assets under management have increased to more than Rs 30,000 crore. Recognising NIIF's growing role in mobilising capital into infrastructure and other key sectors of the Indian economy is in line with the national priorities, the GC appreciated NIIFs performance and took note of the expansion in AUM, it said. Live Events The Governing Council appreciated NIIF's evolution as a sovereign-linked asset manager and acknowledged the efforts made over the years to build strong partnerships with marquee investors like Abu Dhabi Investment Authority, pension funds, multilateral development banks and strategic government counterparts like the Japan Bank for International Cooperation (JBIC). The council also reviewed the performance and way forward across its four active funds -- Fund for Infrastructure (Master Fund), the Fund of Funds (Private Markets Fund), the Fund for Climate and Sustainability as well as India Japan Corridor (the India Japan Fund), and the fund with focus in growth equity (Strategic Opportunities Fund), the statement said. It also appreciated that both Master Fund and Private Markets Fund are already 100 per cent committed and that a part of Master Fund investments have gone into the creation of greenfield assets in areas like ports and logistics, airports, and data centres. The Governing Council meeting was also attended by Finance Secretary Ajay Seth, Secretary of the Department of Financial Services M Nagaraju, SBI Chairman CS Setty and Kotak Mahindra Bank founder and Director Uday Kotak. Reviewing the progress of NIIF's upcoming Private Markets Fund II , which has a target corpus of USD 1 billion, the GC appreciated the fact that PMF II has successfully onboarded private investors in line with the earlier guidance and is set for its first closing shortly. NIIF informed about the progress of the proposed bilateral fund currently under discussion with the US, the statement said.
