NIIF appoints Rajiv Dhar as CEO & MD on interim basis
With effect from May 11, 2023, Rajiv Dhar, Executive Director and Chief Operating Officer, has been named Chief Executive Officer and Managing Director of National Investment and Infrastructure Fund Limited (NIIFL).
According to a press release from the company, Sujoy Bose requested to be relieved of his present duties as Managing Director and Chief Executive Officer, a position he held with the organisation since 2016.
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With effect from May 11, 2023, Rajiv Dhar, Executive Director and Chief Operating Officer, has been named Chief Executive Officer and Managing Director of National Investment and Infrastructure Fund Limited (NIIFL). The transition is being planned in response to Sujoy Bose’s request to be released from his current duties as the company’s managing director and chief executive officer, a post he has held since 2016.
Through its three funds—the Master Fund, Fund of Funds, and Strategic Opportunities Fund—NIIFL manages equity capital commitments totaling more than $4.3 billion. The goal of the NIIF Fund of Funds (FoF) is to create a portfolio of private equity funds that spans various industries and investment philosophies.
In 2015, the Indian government created the National Investment and Infrastructure Fund Limited (NIIF), a government-owned investment vehicle. It was established to draw both domestic and foreign capital to India’s infrastructure development initiatives.
The NIIF attempts to invest in infrastructure and allied industries, including energy, transportation, and urban infrastructure. It operates as a Category II Alternative Investment Fund. Its goal is to raise money from a variety of sources, including sovereign wealth funds, pension funds, and other long-term investors, to finance the nation’s infrastructure projects.
The firm is set up as a fund of funds, which means that it manages a portfolio of funds that invest in infrastructure projects in addition to making investments in other funds. It also has the freedom to participate in joint investments in infrastructure projects with other partners.