Why in news?

Union Minister for Finance & Corporate Affairs, chaired the 5th meeting of the Governing Council (GC) of National Investment and Infrastructure Fund (NIIF) about investment opportunities in the economy

 About National Investment and Infrastructure Fund

• It is India’s first infrastructure specific investment fund or a sovereign wealth fund by the Government of India
• Objective : Maximize economic impact mainly through infrastructure investment in commercially viable projects, both greenfield and brownfield.
• Type: Alternative Investment Fund
• Key person: Sujoy Bose, CEO
• Chaired : Finance Minister of India and has members from corporate bodies, investments and policy sectors.

Funds

• Master Fund: Primarily investing in operating assets in the core infrastructure sectors such as roads, ports, airports, power
• Fund of Funds: invest in funds managed by fund managers who have good track records in infrastructure and associated sectors in India
• Strategic Opportunities Fund: To invest largely in equity and equity-linked instruments.
• First investment agreement: Abu Dhabi Investment Authority (ADIA).
• Domestic Institutional Investors : HDFC group, ICICI Bank, Kotak Mahindra Life and Axis bank