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Investing in India's Infrastructure Future
North Haven India Infrastructure Fund (NHIIF) is a SEBI-registered Category II Alternative Investment Fund managed by Morgan Stanley Investment Management Private Limited, the Indian arm of global investment firm Morgan Stanley. Registered in June 2017 and based at Altimus, Level 39 & 40, Pandurang Budhkar Marg, Worli, Mumbai, the fund focuses on private equity investments in India's infrastructure sector. NHIIF targets significant minority and majority stake acquisitions in companies operating across three core segments: energy and utilities (renewable energy, power transmission, water), mobility and logistics (roads, airports, ports, railways, urban transport), and social infrastructure (healthcare, education). The fund achieved its final close in July 2020 with committed capital of USD 187.55 million. Notable investors include the Asian Infrastructure Investment Bank (AIIB) with a USD 37.51 million commitment and FMO, the Dutch entrepreneurial development bank. The fund is managed by the Morgan Stanley India Infrastructure (MSII) team, a senior group that has invested in Indian infrastructure since 2002 and combines deep local expertise with Morgan Stanley's global best practices and ESG standards.
Morgan Stanley India Infrastructure (MSII) focuses on identifying proprietary situations in businesses with attractive long-term growth prospects. The team seeks to build well-aligned partnerships with capable sponsors and create value through active asset management with a particular emphasis on ESG matters, whilst focusing on generating multiple options for exit within a reasonable timeframe. The fund targets infrastructure platforms and high-growth infrastructure services companies that derive their revenues principally from India, emphasising government-policy-backed sectors, reform-oriented growth themes, and India's demographic dividend.
Raja Parthasarathy
Managing Director & Co-Head, Morgan Stanley India Infrastructure
Raja Parthasarathy is a Managing Director and Co-Head of Morgan Stanley India Infrastructure. Prior to joining Morgan Stanley in 2014, Raja was a partner at IDFC Private Equity. He earlier worked with Jet Airways, UBS, Goldman Sachs and Lehman Brothers. Raja received an MBA from INSEAD, an MA in Economics from Tufts University and a BA from Hamilton College.
Shyamsundar Gurumoorthy
Managing Director & Co-Head, Morgan Stanley India Infrastructure
Shyamsundar Gurumoorthy is a Managing Director and Co-Head of Morgan Stanley India Infrastructure. Shyam joined Morgan Stanley in 2014 and has over 21 years of experience. Prior to joining the firm, he was a founding member and partner at IDFC Private Equity where he led investments across infrastructure sectors including power, telecom, oil & gas, roads, seaports, airports, shipping and logistics. Shyam started his career at ICICI Securities and holds a PGDM from IIM Calcutta and a BE (Mechanical) from Anna University.
Luis Miranda
Senior Advisor, India Infrastructure
Luis Miranda is a Senior Advisor for Morgan Stanley India Infrastructure. Luis joined Morgan Stanley in 2014 and brings over 34 years of experience. Prior to joining the firm, Luis founded IDFC Private Equity, India's first infrastructure-focused private equity fund. He was previously a senior member at ChrysCapital and a founding team member at HDFC Bank. Luis also worked with HSBC, CitiBank, KPMG and PwC. He is Chairman of ManipalCigna Health Insurance and holds an MBA from the University of Chicago Booth School of Business.
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