NIIF-Roadis to set up platform to invest in Road Projects
The National Investment and Infrastructure Fund (NIIF) and global transport infrastructure operator Roadis will jointly set up a platform to invest up to $2 billion of equity in road projects in India. The platform would target toll-operate-transfer models and acquisitions of existing road concessions.
Roadis is a fully owned subsidiary of the Public Sector Pension Investment Board which is one of Canada’s largest pension funds.
Currently, NIIF is managing the capital invested through three funds, namely:
- NIIF Master Fund: It focuses mainly on core infrastructure and operating assets.
- NIIF Fund of Funds: It invests in funds managed by third-party managers in the infrastructure and associated sectors.
- NIIF Strategic Fund: It is a diversified investment strategy, including greenfield projects and debt platforms.
NIIF’s role in infrastructure funding has acquired great significance in recent years, in the backdrop of most public-sector banks are struggling to cope with toxic assets and IL&FS, a key infrastructure refinancer until last year been ridden by the crisis.