Australia, Canadian funds to invest $2 bn via NIIF

New Delhi: The National Investment and Infrastructure Fund (NIIF) on Tuesday said Australia's largest superannuation fund AustralianSuper and Canada's Ontario Teachers' Pension Plan have signed pacts to invest up to $2 billion with the NIIF Master Fund.

The NIIF invests in equity capital in the country's core infrastructure sectors with a focus on transportation, energy and urban infrastructure.

"The NIIF of India is pleased to announce that AustralianSuper, Australia's largest superannuation fund, and Ontario Teachers' Pension Plan (Ontario Teachers'), Canada's largest single-profession pension plan, have each signed agreements for investments of up to $1 billion with the NIIF Master Fund," NIIF said in a statement.

The agreements include commitments of $250 million each in the Master Fund and co-investment rights of up to $750 million each in future opportunities alongside the Fund, it said.

AustralianSuper and Ontario Teachers' will also become shareholders in National Investment and Infrastructure Fund Ltd, it said.