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 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 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.