National Investment and Infrastructure Fund (NIIF) Fund of Funds has announced an anchor commitment of Rs 400 crore (around $48.5 million) to Nykaa and Fabindia-backer Lighthouse Advisors fourth alternative investment fund (AIF), to become its first domestic institutional investor.
The National Investment and Infrastructure Fund (NIIF) Fund of Funds has announced a Rs 400 crore (approximately $48.5 million) anchor commitment to Lighthouse Advisors' fourth alternative investment fund (AIF), becoming its first domestic institutional investor.
The International Finance Corporation (IFC), the World Bank's private investment arm, committed up to $50 million for the fourth fund in September last year. The addition of NIIF as an anchor investor in Lighthouse Fund IV is expected to help the fund catalyse additional capital from high-quality domestic and global institutions.
Per transaction, the private equity (PE) firm invests between $20 million and $50 million. In May 2019, it raised Rs 1,750 crore for its third fund, which included a pool of capital for co-investment opportunities. Along with Nykaa and Fabindia, some of its notable investments include Wow! Momo, Bikaji Foods, Duroflex Mattresses, and Medikabazaar, among others.
The government-backed NIIF manages over $4.3 billion in equity capital commitments across three funds - the Master Fund, the Fund of Funds, and the Strategic Opportunities Fund - each with a distinct investment strategy dedicated to supporting the country's growth needs.