Abu Dhabi Investment Authority signed a $1 billion agreement with the National Investment and Infrastructure Fund of India, confirmed a spokesman for the sovereign wealth fund.
The agreement includes an ADIA investment in NIIF's Master Fund. ADIA has also become a shareholder in National Investment and Infrastructure Ltd., the NIIF's investment management company, said an NIIF news release. Further details will be released at a later stage.
"The NIIF is set to play an important role in facilitating the flow of foreign capital into India's infrastructure sector," said Khadem AlRemeithi, executive director of the real estate and infrastructure department at ADIA, in the news release. "As a long-standing investor in India and in infrastructure globally, ADIA welcomes the opportunity to be the first to partner with NIIF in a platform that is sure to be of interest to other long-term institutional investors."
ADIA has about $828 billion in assets, according to the Sovereign Wealth Fund Institute.
Money manager NIIF is sponsored by the government of India. It is a collaborative investment platform for international and Indian investors.
