AutralianSuper injects $500m in Indian infrastructure

AustralianSuper will increase its commitment to India's National Investment and Infrastructure Fund (NIIF) with a further $500 million, taking the fund's overall holdings in India across all asset classes to $3.3 billion.

The new investment follows the initial investment of $240 million in the fund in 2019, which was part of an agreement with the Indian sovereign wealth fund to invest up to US$1 billion in infrastructure opportunities at the time.

The NIIF was established in 2015 to attract investors from around the world to deploy capital into infrastructure developments in India, AustralianSuper said.

Commenting, AustralianSuper chief investment officer Shaun Manuell claimed the investment in the NIIF has been one of its "most successful" partnerships.

"Our experience with NIIF demonstrates what can be achieved when long-term capital is combined with visionary policy, trusted institutions and strong partnerships," he said.

"India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully.

"AustralianSuper is making a second investment in the NIIF because those fundamental strengths are still there and we see the potential for more returns for members."

Manuell said policy consistency was a key factor behind the decision.

Further, AustralianSuper chief executive Paul Schroder attended the Australia-India Annual Leaders' Summit yesterday to discuss the announcement.

The new investment follows the initial investment of $240 million in the fund in 2019, which was part of an agreement with the Indian sovereign wealth fund to invest up to US$1 billion in infrastructure opportunities at the time.

The NIIF was established in 2015 to attract investors from around the world to deploy capital into infrastructure developments in India, AustralianSuper said.

Commenting, AustralianSuper chief investment officer Shaun Manuell claimed the investment in the NIIF has been one of its "most successful" partnerships.

"Our experience with NIIF demonstrates what can be achieved when long-term capital is combined with visionary policy, trusted institutions and strong partnerships," he said.

"India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully.

"AustralianSuper is making a second investment in the NIIF because those fundamental strengths are still there and we see the potential for more returns for members."

Manuell said policy consistency was a key factor behind the decision.

Further, AustralianSuper chief executive Paul Schroder attended the Australia-India Annual Leaders' Summit yesterday to discuss the announcement.