Paddy Sinha joins India government infrastructure fund

NIIFL is a rupee-denominated investment platform anchored by the Indian government and backed by a string of domestic and international investors. It has $4.5 billion in committed capital across three vehicles: NIIF Master Fund, NIIF Fund of Funds, and Strategic Opportunities Fund.

Sinha (pictured) is responsible for leading the Strategic Opportunities Fund, according to a statement on LinkedIn. It is a private equity vehicle that makes growth and development stage investments in companies of strategic importance to the Indian economy. Financial services, food and agriculture, healthcare, and education are the main sectors of interest.

Having started his private equity career with ICICI Venture, Sinha spent more than six years covering India for Temasek Holdings before joining Tata Opportunities Fund on launch in 2011. He was promoted from CIO to managing partner in early 2013, presiding over the final close of a $600 million debut fund.

Sinha departed Tata Opportunities Fund last year after Tata Capital, the parent entity, decided it didn’t want to proceed with Fund II, which was already in the market. Sinha’s exit was positioned as the first step in a spinout by the Tata Opportunities Fund team, but that has yet to materialize.

NIIF Master Fund closed at the end of last year with $2.34 billion in commitments. It focuses on operating assets in core infrastructure sectors, primarily transportation and energy. Foreign LPs have the right to deploy an additional $3 billion in co-investment.

The fund-of-funds had raised $700 million against a target of $1 billion as of March 2020. It backs local managers with exposure to areas such as climate infrastructure, affordable housing, and digital consumer platforms.

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• Topics
• South Asia
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• National Investment Infrastructure Fund (NIIF)
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