The Government has invited applications for the post of CEO for National Investment and Infrastructure Fund (NIIF). The Fund, announced in the budget, may have an initial corpus of Rs 40,000 crore.
In July, the Cabinet had approved the creation of NIIF, a sort of sovereign fund, for development of infrastructure projects, including the stalled ones.
The Fund is being set up as a Fund of Funds (Category II Alternate Investment Fund) with a proposed series of funds.
The CEO’s responsibilities will include establishment of the Fund, putting appropriate investment and other relevant policies in place, and fund raising.
Other responsibilities include coordinating with investors, identifying investment opportunities, analyzing them, obtaining necessary approvals, funding, managing the assets post investment and exiting the investments to meet the investment objectives and policy of the Fund.