IDFC Alternatives has announced it has raised $644 million for its second India infrastructure focused fund, India Infrastructure Fund II (IIF2).

According to a press release, the investors comprise of global institutional investors from North America, Europe and the UK.IDFC Alternatives Managing Partner and CEO MK Sinha said:

"There is substantial re-up commitments from IIF1 investors who have reaffirmed their faith in IDFC as an Infrastructure Fund Manager and in India's potential as an attractive investment opportunity in the Infrastructure space."

The India Infrastructure Fund II, is the successor to IDFC's IIF1, which closed in June 2009 with a fund size of $927 million.

The IDFC Alternatives team has invested its first India focused fund in a diversified portfolio of infrastructure assets in India, including roads, ports, hospitals, and power, among others. Yesterday, we announced that India Infrastructure Fund (IIF1) had acquired a 74% stake in GMR Ulundurpet Expressways Private Limited ('GUEL').

As of June 30, 2013, the first fund had invested 84 % of its total capital across 15 portfolio companies. See full list of portfolio companies here.