Mumbai, Aug. 31 -- India's sovereign-backed private investor National Investment and Infrastructure Fund Ltd. (NIIF) has raised Rs.19,000 crore, or $2 billion, in the first close of its NIIF Infrastructure Fund II from large global and domestic institutional investors.

The firm is targeting $3.2 billion in total commitments and expects some of its marquee investors to allocate an additional $950 million towards co-investment opportunities, it said in a statement.

The capital will be deployed across core infrastructure sectors including energy, transport and digital infrastructure, while expanding into emerging themes such as urban infrastructure and electric mobility.

"The strategy for fund two will remain the same. In addition to inve...