Asian Development Bank to invest $100 million into NIIF's fund of funds

The FoF invests in a variety of sectors and strategies through third-party managed funds. Three funds are focused on a wide range of sectors, including green energy and climate, middle-income and affordable housing, and entrepreneur-driven mid-market growth companies operating across diversified sectors.

“With this capital infusion, the FoF will be able to increase its support to India-focused PE fund managers at a time when their global fundraising prospects may be challenging in the short term,” said Sujoy Bose, Managing Director & Chief Executive Officer of NIIF.

The managers of the three funds have successfully raised $1.1 billion equivalent alongside NIIF’s investments, demonstrating the institution’s ability to crowd-in capital besides its own investments.

“ADB’s investment in NIIF will help catalyze institutional capital into domestic private equity funds in India, thereby contributing to greater availability of long-term growth financing for private sector companies and leading to the creation of quality jobs, social infrastructure development, and economic growth,” said ADB Vice-President for Private Sector and Public-Private Partnerships, Diwakar Gupta.