ADIA-Backed India Fund to Seek $4 Billion for Infrastructure [Financial Post (Toronto, Ontario, Canada)]
ICICI Bank Limited (IBN)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — India's quasi-sovereign fund plans to seek about $4 billion in its largest-ever fundraise, according to people with knowledge of the matter, amid the government's drive to upgrade infrastructure across the country. The National Investment & Infrastructure Fund, backed by the Indian government and several global investors, is looking to raise money early next year, the people said, asking not to be identified discussing private information. The new fund would be much larger than the predecessor Master Fund that closed in December 2020 with $2.34 billion, and would mark a restart of activities under a new chief executive officer. NIIF is also raising capital for its private markets fund, and will consider a new private equity fund after the infrastructure fundraise, one of the people said. The firm underwent a rough patch with its biggest sharehol
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