Sovereign wealth fund takes first place in National Investment and Infrastructure Fund. : Abu Dhabi’s sovereign wealth fund is investing US$1bn (€850m) to become the first institutional investor in India’s National Investment and Infrastructure Fund (NIIF). The Indian government said Abu Dhabi Invesmtent Authority (ADIA) had signed an agreement this week, making if the first institutional investor in NIIF’s Master Fund and a shareholder in the fund’s investment management company. Six domestic investors will join ADIA: HDFC Standard Life Insurance Company, HDFC Asset Management Company, Housing Development Finance Corporation, ICICI Bank, Kotak Mahindra Old Mutual Life Insurance, and Axis Bank.