On 5th January 2024, National Investment and Infrastructure Fund Limited (“NIIFL”), a collaborative investment platform for international and Indian investors which is anchored by the Government of India announced that its Board of Directors has appointed, Mr Sanjiv Aggarwal as Chief Executive Officer & Managing Director of NIIFL.
The appointment has followed a search process which NIIFL’s Board of Directors conducted. Mr Aggarwal has had significant experience in the infrastructure and energy sectors. He joined Actis as a leading global investor in sustainable infrastructure, in 2008. Following his journey he later went on to become a partner in 2010. He has recently been responsible for Actis’ energy investments in Asia including India.
During his time at the UK-based investment firm, he oversaw the sale of Actis’ India renewable energy platform Sprng Energy to Shell PLC in April 2022 for $1.55 billion.
Before joining Actis, Mr Aggarwal had worked with Citigroup and ANZ Investment Bank in the Indian energy and infrastructure sectors.
“I am privileged to have the opportunity to guide NIIFL at such an exciting time in the company’s journey with its unique positioning in India and its growth potential. I am committed to building on NIIFL’s strong track record and look forward to working with NIIFL’s talented team to invest in India’s very strong growth story and create value for our stakeholders.” Mr Aggarwal said reflecting on his appointment.
Mr. Aggarwal’s appointment will be effective from February 2024 as he succeeds Mr. Rajiv Dhar who had served as interim CEO & MD since May 2023. The Board of Directors of NIIFL extended its gratitude to Mr. Dhar for his exceptional leadership during his interim term. Under his leadership, NIIFL made significant strides by launching its first bilateral fund, that is, the India-Japan Fund with the Japan Bank for International Cooperation (JBIC), as well as collaborating with the U.S. government on a multi-billion dollar green transition fund and paving the strategy for successor funds.
Mr. Dhar had taken up his role as the interim CEO & MD after the former CEO, Sujoy Bose had resigned from the company in May 2023. The appointment of Mr. Aggarwal comes at a time when NIIFL has stepped up its investments in the infrastructure and growth equity segments.
About the National Investment and Infrastructure Fund
National Investment and Infrastructure Fund Limited (NIIFL) is a collaborative investment platform for international and Indian investors, anchored by the Government of India, which manages funds with investments in different asset classes and diversified sectors that generate attractive risk-adjusted returns.
NIIFL manages around $5 billion of equity capital commitments across its four funds – Master Fund, Fund of Funds, Strategic Opportunities Fund, and India-Japan Fund, each with a distinct investment strategy committed to supporting the country’s growth needs.
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