National Investment and Infrastructure Fund Ltd (NIIFL), a collaborative investment platform for international and Indian investors, anchored by the Government of India, today announced that its Board of Directors has appointed Sanjiv Aggarwal as chief executive officer and managing director of NIIFL.
Aggarwal brings to NIIFL a significant experience in the infrastructure and energy sectors. He joined sustainable infrastructure investor Actis in 2008, where he became a partner in 2010. He has driven Actis’ energy investments in Asia including India. Before joining Actis, Aggarwal worked with Citigroup and ANZ Investment Bank in the Indian energy and infrastructure sectors.
Aggarwal’s appointment will be effective in February 2024. He succeeds Rajiv Dhar, who has served as interim CEO and MD since May 2023. Under Dhar’s leadership, NIIFL made significant strides, launching its first bilateral fund, the India-Japan Fund with the Japan Bank for International Cooperation (JBIC), collaborating with the U.S. government on a multi-billion dollar green transition fund, and paving the strategy for successor funds.
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 support the country’s growth needs.
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