In line with its strategy of creating large investment platforms, the NIIF Master Fund has formed a US$3 billion ports and logistics platform, Hindustan Infralog Private Limited (“HIPL”), with a leading global port terminal operator, DP World. DP World is amongst the largest container terminal operators globally and the largest player (by volume) in the Indian container terminal market.
HIPL seeks to invest up to US $3 Billion of equity across the entire ports and logistics value chain. The initial focus of the platform will be on acquiring stable businesses with a strong growth potential and seek to scale those businesses with a combination of capital, operational expertise and relationships with global customers.
HIPL’s first investment is the acquisition of a controlling stake in Continental Warehousing Corporation (‘CWC’), a leading multi-modal logistics company with a pan-India presence, in-line with HIPL’s strategy to increase presence in the inland logistics sector.
The Green Growth Equity Fund (‘GGEF’) is the first investment of NIIF’s Fund of Funds. With a GBP120m commitment and a similar commitment from UK government’s Department for International Development (‘DFID’), NIIF and DFID jointly undertook an international search for an experienced fund manager and selected EverSource Capital – a joint venture between Everstone Capital and Lightsource BP – as the fund manager for GGEF.
GGEF aims 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.