National Investment and Infrastructure Fund Ltd (NIIF), India’s sovereign-anchored alternative asset manager, said its NIIF Infrastructure Fund II has raised ₹19,000 crore ($2 billion). The target is to raise ₹30,000 crore ($3.2 billion).“The first close is anchored by the Government of India and supported by a high-quality investor base spanning sovereign wealth funds, pension funds, insurance companies and leading Indian financial institutions,” NIIF said in a statement.Global institutional investors include AustralianSuper; CPP Investments; a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA); Ontario Teachers’ Pension Plan; and Temasek; alongside leading Indian institutions including ICICI Bank, HDFC Bank, Axis Bank, Kotak Life Insurance and HDFC Life Insurance, it added.Alongside the Fund, NIIF expects to mobilise approximately ₹9,000 crore ($950 million) in co-investment capital.Infrastructure Fund II will invest across core infrastructure sectors including energy, transport and digital infrastructure, while expanding into emerging themes such as urban infrastructure and electric mobility.NIIF’s first infrastructure fund had raised ₹16,000 crore ($2.34 billion) and had invested across renewables, transmission, distribution, battery storage, roads, ports and logistics, airports, data centres and smart metering. Sanjiv Aggarwal, Managing Director & CEO, NIIF said, “Infrastructure Fund II reflects the continued confidence of our partners in India’s infrastructure opportunity and in NIIF’s ability to deploy long-term capital with discipline, sector expertise and strong governance.”“India’s infrastructure build-out is creating opportunities at scale, and NIIF is well positioned to connect global and domestic institutional capital with high-quality businesses. We are grateful to the Government of India, our anchor investor, and to our global and Indian partners for their continued trust,” he said. Published - August 31, 2026 10:00 pm IST