National Investment and Infrastructure Fund Limited appointed Gauravjit Singh as Managing Partner and Global Head of Capital FormNational Investment and Infrastructure Fund Limited, or NIIF, has appointed Gauravjit Singh as Managing Partner and Global Head of Capital Formation.
The appointment was announced on September 7.
Capital formation, in simple terms, means raising money for NIIF's funds and maintaining relationships with the pension funds, sovereign funds, banks, insurers and other institutions that invest through NIIF.
Singh will work across NIIF's investment strategies rather than being limited to a single fund. His mandate includes retaining existing investors, adding new institutional investors in India and overseas, and bringing additional capital into NIIF-managed funds.
Who is Gauravjit Singh?
Gauravjit Singh is NIIF's Managing Partner and Global Head of Capital Formation.
He has nearly two decades of experience in institutional fundraising.
Before NIIF, he headed investor relations and fundraising for PAG's private equity division in Singapore and sat on the firm's Investment and Exit Committees.
His earlier career includes True North, KKR Hong Kong and Goldman Sachs.
At NIIF, his main responsibility is to raise capital and manage relationships with institutions investing across NIIF's funds.
Why Gauravjit Singh's Appointment Comes at an Important Time
Singh is joining NIIF days after one of the fund manager's biggest fundraising announcements.
On August 31, NIIF announced the first close of Infrastructure Fund II at ₹19,000 crore, equivalent to about $2 billion.
The fund has a target size of ₹30,000 crore.
This means that, based on the disclosed target, NIIF still has around ₹11,000 crore left to raise before Infrastructure Fund II reaches its target.
NIIF also expects to mobilise another ₹9,000 crore in co-investment capital alongside the fund.
Co-investment allows an investor already working with NIIF to put additional money directly into selected transactions instead of investing only through the main fund.
If NIIF reaches both targets, Infrastructure Fund II and its planned co-investment pool could together be connected with about ₹39,000 crore of capital.
NIIF Infrastructure Fund II Still Has ₹11,000 Crore to Raise
Infrastructure Fund II is not the only open fundraising programme.
In March 2026, NIIF announced commitments of up to $750 million for Private Markets Fund II, against a target of $1 billion.
That leaves approximately $250 million between disclosed commitments and the target, assuming the target remains unchanged.
Private Markets Fund II invests through private equity and venture capital funds and can also participate in direct co-investments.
The areas identified by NIIF include energy transition, healthcare, manufacturing, technology, start-ups and financial inclusion.
So, based only on the two successor funds for which NIIF has publicly disclosed targets, Singh enters the organisation with:
- about ₹11,000 crore remaining against the Infrastructure Fund II target
- about $250 million remaining against the Private Markets Fund II target
- a planned ₹9,000 crore infrastructure co-investment mobilisation programme
- possible future funds and bilateral investment vehicles that have not yet been fully detailed
This is why the appointment should be viewed as part of NIIF's fundraising programme rather than only as a personnel announcement.
What NIIF's Official Announcement Says
NIIF's September 7 release says Singh has nearly two decades of experience raising institutional money across global, India-focused and pan-Asian investment strategies.
His most recent position was at PAG in Singapore, where he was Head of Investor Relations and Fundraising for the firm's private equity division.
He also served on PAG's Investment and Exit Committees.
Before PAG, Singh worked with True North and KKR. Moneycontrol reports that his earlier career also included Goldman Sachs.
At True North, Singh's role is particularly relevant to what NIIF may now require.
The Economic Times reports that he led investor relations at True North and supported the firm's expansion into private credit and institutional markets across the United States, Europe, the Middle East, North Africa and Japan.
That geographic experience matters because NIIF is no longer raising capital from one or two overseas markets.
Its investor base now spans pension funds, sovereign investment institutions, banks, insurers and development institutions across several countries.
AustralianSuper provides an example of how this model can work
News4Bharat reported in July that AustralianSuper announced an additional AU$500 million commitment to NIIF, taking its total India exposure across asset classes to AU$3.3 billion.
AustralianSuper had first invested in NIIF in 2019.
Its decision to invest again gives NIIF something useful when approaching other pension institutions: a returning investor with an existing record of investing through the platform.
Read News4Bharat's earlier report: AustralianSuper Invests AU$500 Million More in India’s NIIF
The July investment is also worth reading alongside the August Infrastructure Fund II close. AustralianSuper is among the investors disclosed in the new fund.
Government of India's ₹60,000 Crore NIIF Commitment
Another part of the timeline received less attention in reports on Singh's appointment.
On June 29, 2026, the Ministry of Finance announced that the Union Cabinet had approved an additional ₹30,000 crore investment commitment to NIIF.
The decision doubled the Government of India's total commitment to NIIF to ₹60,000 crore.
The government holds a 49% share in National Investment and Infrastructure Fund Limited.
At the time of the Cabinet announcement, the government said NIIF was managing capital commitments of about ₹40,000 crore and had returned close to ₹12,000 crore to investors through portfolio exits.
The additional government commitment is meant to support Infrastructure Fund II as well as new fund strategies, successor bilateral funds and other investment vehicles.
Official Ministry of Finance release: Cabinet approval for additional ₹30,000 crore NIIF commitment
The timing therefore looks like this:
- June 29: Government raises its total NIIF commitment to ₹60,000 crore.
- July: AustralianSuper announces another AU$500 million commitment to NIIF.
- August 31: Infrastructure Fund II reaches a ₹19,000 crore first close.
- September 7: Gauravjit Singh joins to lead capital formation across NIIF.
Viewed together, these are connected steps in the same capital mobilisation cycle.