ADB invests $100m in state-backed Indian fund-of-funds
The Asian Development Bank (ADB) has invested $100 million in NIIF Fund of Funds, a rupee-denominated fund-of-funds vehicle anchored by the Indian government.
The fund-of-funds program also counts the National Investment and Infrastructure Fund (NIIF), a government-backed fund manager, and the Asian Infrastructure Investment Bank (AIIB) as investors. Established...
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