17/10/2017 09:43 AST

The Abu Dhabi Investment Authority (ADIA) has committed an investment of up to $1 billion to India's National Investment and Infrastructure Fund (NIIF), according to a report.

ADIA will become the first institutional investor in the NIIF Master Fund and a shareholder in the fund’s investment management company — the National Investment and Infrastructure Limited, said the Indian Express report.

The initial size of the fund, set up two years ago, is being expected to close at $2.1 billion, it said.

ADIA is expected to bring in $200-250 million in the first fund and will invest the remaining portion in investment vehicles created by the NIIF, it said.

The government is not providing any guarantee on returns and the “investments will be done purely on commercial basis,” a Finance Ministry official was quoted as saying in the report.


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