NIIF announces GBP 120 million commitment to the Green Growth Equity Fund
Mumbai, April 18, 2018: The National Investment and Infrastructure Fund of India is pleased to announce that it has partnered with the UK Government to launch the Green Growth Equity Fund (“GGEF”). NIIF and the UK Government have committed GBP 120 million each into the Fund. EverSource Capital, an equal joint venture between Everstone Group and Lightsource BP was selected as the fund manager for GGEF following an international selection process. Everstone Group is a premier multi-asset investment firm and Lightsource BP is a global market leader in renewable energy development and management.
Sujoy Bose, CEO, National Investment and Infrastructure Fund, said: “NIIF is delighted to be an anchor investor in GGEF, which will be the first investment for NIIF’s Fund of Funds. GGEF will provide investors with a vehicle to invest at scale into one of the largest and most attractive clean energy markets in the world. Everstone’s capabilities of building successful operating companies in India and Lightsource’s global renewable energy experience will provide a strong platform for EverSource Capital to successfully execute GGEF’s investment strategy.”
GGEF aims to raise GBP 500 million from international institutional investors to invest into areas such as renewable energy, clean transportation, water, sanitation, waste management, emerging technologies and similar industries in India which offer significant investment opportunities and potential for attractive returns. NIIF’s investment in GGEF demonstrates the role that NIIF’s Fund of Funds can play in the infrastructure and associated sectors in India by anchoring and investing with fund managers with good track records. The NIIF Fund of Funds will complement NIIF’s Master Fund, which will focus on investing into large-scale operating platforms for core infrastructure sectors.
NIIF is a fund manager that seeks to create long-term value for domestic and international investors seeking to invest in energy, transportation, urban infrastructure and other infrastructure-related sectors in India. NIIF, an institution anchored by the Government of India, is a collaborative investment platform for international and Indian investors. To learn more about NIIF, visit www.niifindia.in.