Canada's largest pension fund Canada Pension Plan Investment Board (CPPIB) has agreed to invest about $600 million in National Investment and Infrastructure Fund (NIIF) through the NIIF Master Fund.

The agreement includes a commitment of $150 million in the NIIF Master Fund and co-investment rights of upto $450 million in future opportunities to invest alongside the NIIF Master Fund.

NIIF is India’s first sovereign wealth fund that was set up by the Government of India in February 2015. It manages over $4 billion of capital commitments across three funds.