Abu Dhabi Investment Authority's unit to invest $1 billion in India's infra fund

India's National Investment and Infrastructure Fund (NIIF) on Monday said it signed a $1 billion investment deal with a unit of Abu Dhabi Investment Authority (ADIA) - one of the largest sovereign wealth funds in the world.

NIIF, a quasi-sovereign wealth fund, said ADIA will become the first institutional investor in its master fund.

The corpus of NIIF, created by the Indian government to boost infrastructure financing, is proposed to be about $6 billion, with a 49 percent investment from the government.