The open-ended fund launched last year offers investors long-term exposure to assets that do not generate as high returns as the firm’s flagship fund series.
The strategy, which typically targets returns of 8-12%, will follow the Swiss firm’s 2016 vintage which raised €2.2bn.
The commitments from the Canadian pension and Australian superannuation fund bring NIIF’s Master Fund to its third close on more than $1.8bn.
The fund is targeting $1.25bn and is expecting a first close between $700m and $900m.
The Munich-based fund manager launched the infrastructure vehicle earlier this year with a €500m target and raised two-thirds of its capital from German investors.
African Infrastructure Investment Fund 3, which was aiming for $750m, is over 50% committed as it nears its 10th investment.
The vehicle is being led by Hong Kong-based Hajir Naghdy, who joined from Macquarie Capital at the end of last year.
The Swiss group has garnered €149m to date for its second energy efficiency fund, which has already made seven investments.
The vehicle is targeting high single-digit returns and will focus investments mostly in Europe.
Infrastructure, private equity, real estate and private debt have raised a collective $371bn during the first half of the year.
More than 80 investors committed to the New York-based firm’s inaugural infrastructure fundraise.
Digital infrastructure comes to the forefront as average fund size keeps getting bigger. Find out more in our latest fundraising report.
The launch of the latest vehicle comes two years after the fund manager closed its GRPF II on $1.6bn, which has invested in more than150 projects.
The Finnish group has so far raised €219m for a strategy that will see it invest predominantly in Europe but also in the US.
The firm has already announced investments from its Global Infrastructure Opportunity Fund in projects including New York's JFK Terminal One modernisation.