The National Infrastructure and Investment Fund (NIIF) is looking to unveil a $2-billion long-term fund to finance mega projects. The new fund has already been registered.

The NIIF already has two operational funds— the NIIF master fund that invests directly into companies and a fund of funds that invests in funds that are managed by third parties.

“There is a third fund which we are designing. The size of the fund will be $2 billion,” NIIF MD and CEO Sujoy Bose said at a function. “The new fund will focus on major infrastructure projects and look for partners who are willing to take long-term risks with us,” Mr. Bose added.