New Delhi, Aug. 31 -- National Investment and Infrastructure Fund Limited (NIIF) reached the first close of NIIF Infrastructure Fund II at Rs 19,000 crore, or approximately USD 2 billion. According to NIFF, the first close represents more than 60 per cent of the overall Rs 30,000 crore target size.

Anchored by the Government of India, the fund received capital commitments from international and domestic institutional investors. Global participants include AustralianSuper, CPP Investments, a wholly owned subsidiary of the Abu Dhabi Investment Authority, Ontario Teachers' Pension Plan, and Temasek. Indian institutional backers comprise ICICI Bank, HDFC Bank, Axis Bank, Kotak Life Insurance, and HDFC Life Insurance.

NIIF stated that it exp...