NIIF: India's biggest infra fund gets a boss in new office for extra protection on deals

India’s National Investment & Infrastructure Fund, which is backed by the federal government, will appoint Rajiv Dhar in a newly created role of chief investment officer, according to a person familiar with the matter.

The appointment aims to strengthen investment decisions and provide another layer of oversight on deals, the person said, asking not to be identified as the matter is private. Dhar will be a voting member on the investment committee and valuation panel for all funds, the person said.

A spokesperson for NIIF, as the fund is also known, declined to comment.


Dhar joined NIIF in 2017. Having worked as executive director and chief operating officer, he was made interim CEO and managing director last May, some eight months after Sujoy Bose vacated that position. Sanjiv Aggarwal, formerly head of Asia energy investment at Actis LLP, took over as the fund’s CEO and managing director in February.

Founded in 2015, NIIF is 49% owned by the Indian government and has more than $4.9 billion in assets under management, making it the country’s biggest infrastructure fund, according to its website. The fund’s backers also include Abu Dhabi Investment Authority and Canada Pension Plan Investment Board.