National Investment and Infrastructure Fund (NIIF)

Why in the News?

Union Finance Minister chaired the 5th Meeting of Governing Council of the National Investment and Infrastructure Fund (NIIF).

Key Points

About

National Investment and Infrastructure Fund

• NIIF was set up as a Category II alternative investment fund (AIF) in 2016 under the Companies Act, 2013
• It is an Indian government-backed entity established to provide long-term capital to the country’s infrastructure sector.
•  With the Centre’s significant stake (49 percent), NIIF is India’s quasi-sovereign wealth fund.
• Currently, NIIF manages three funds:
  • Master Fund
  • Fund of Funds
  • Strategic Opportunities Fund
• Headquarters: Mumbai

News Source: Press Information Bureau