NIIF taps Russell Reynolds to find next MD & CEO

livemint.com:

NEW DELHI : The National Investment and Infrastructure Fund Ltd (NIIF) has mandated global leadership advisory firm Russell Reynolds Associates to find the next managing director (MD) and chief executive officer (CEO) of India’s quasi-sovereign wealth fund, two people familiar with the development said. After Sujoy Bose, who served as NIIF’s first MD & CEO for six years since 2016, quit in May, the company named Rajiv Dhar, the executive director and chief operating officer, the interim MD & CEO. In 2015, the then-department of economic affairs secretary Shaktikanta Das headed a search-cum-selection committee to select the CEO for the investment management company under NIIF.

Queries emailed to the spokespeople for NIIF and the finance ministry on late 2 August remained unanswered. Queries posted on Russell Reynolds Associates’ website also remained unanswered. NIIF is sponsored and anchored by the Government of India, which holds a 49% interest in the company.

It primarily focuses on investing in core infrastructure sectors, such as transportation, airports, ports, logistics and roads, green energy and digital. It manages over $4.3 billion of equity capital commitments across its three funds—Master Fund, Fund of Funds, and Strategic Opportunities Fund. These funds have been invested in ports and logistics, renewable energy, roads, digital infrastructure, and manufacturing sectors.