(The Gist of PIB) Nhai Signs MoU with NIIF for funding highway projects [JULY-2019]

Nhai Signs MoU with NIIF for funding highway projects

• National Highways Authority of India (NHAI) signed an MoU with National Investment and Infrastructure Fund (NIIF) for funding highway projects.

About:

• NIIF is an investor-owned fund manager, anchored by the Government of India (GoI) in collaboration with leading global and domestic institutional investors.
• The Indian government has 49 % stake in NIIF with the rest held by marquee foreign and domestic investors.
• NIIF was set up as an alternative investment fund (AIF) in December 2016 with a planned corpus of ₹40,000 crore.
• Major objective is to provide long-term capital to the country’s infrastructure sector.

Funds managed:

• NIIF currently manages three funds each with its distinctive investment mandate namely (1) Master fund, (2) Fund Of Funds and (3) Strategic Fund.
• The funds are registered as Alternative Investment Fund (AIF) with the Securities and Exchange Board of India (SEBI).

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Courtesy: PIB