NIIF eyes $1-B for second Private Markets Fund

Quasi-sovereign National Investment and Infrastructure Fund (NIIF) is set to raise about USD 1 Billion for its second Private Markets Fund (PMF). PMF-II will back India-focused private equity and venture capital funds.NIIF, which launched the fundraising process early this year, is expected to make a first closure of about USD 550 million in a few months. The government of India, which owns about 49% of NIIF, will be the largest contributor to PMF-II.