Leading global law firm Herbert Smith Freehills has advised Australia's largest superannuation fund, AustralianSuper on its US$1 billion commitment to the National Investment and Infrastructure Fund (NIIF) of India.
NIIF is the largest infrastructure fund in India sponsored by the Indian government. The fund invests equity capital in core infrastructure sectors in India with a focus on transportation, energy and urban infrastructure. AustralianSuper coinvested alongside Canadian pension fund Ontario Teachers, Singapore government fund Temasek and Abu Dhabi's ADIA.
AustralianSuper will also become a shareholder in NIIF's investment management company, allowing a dual role as investor in both the fund and the fund manager.
"We are delighted to have advised AustralianSuper on their inaugural investment in India alongside other high profile global fund investors," said Singapore partner Nicola Yeomans. "The scale of this deal demonstrates the international interest in the Indian infrastructure sector and positions AustralianSuper to capitalise on India's growing demand for infrastructure."
Nicola led the team advising AustralianSuper assisted by Asia infrastructure partner Glynn Cooper, senior associate Indraneil Ghosh and associates June Tan and Sangheetaa Phary.