India’s quasi SWF buys infra debt fund to draw in others

India’s National Investment and Infrastructure Fund (NIIF) has made a strategic acquisition in a move that aims to boost the role of private debt funding in the country's infrastructure sector. Touted as a quasi-sovereign wealth fund, NIIF announced this week the acquisition of IDFC Infrastructure Finance, a local infra debt fund that helps infrastructure financiers to refinance their capital once projects become operational. The transaction comes at a time when momentum is buil…