The National Investment and Infrastructure Fund, a $6 billion quasi-sovereign infrastructure vehicle, is looking to hire a chief financial officer, a chief operating officer and infrastructure investment professionals across all levels.
There are four senior management vacancies. Alongside the CFO and COO roles, two executive directors are needed – one for direct investments and another for fund of funds. They will formulate and implement the fund’s investment strategies as it looks to support India’s infrastructure development. The executive appointments will report to chief executive Sujoy Bose, who joined the fund last year from International Finance Corporation where he worked as a global co-head of infrastructure and natural resources.
The CFO and COO will be based in Mumbai, while the two executive directors are expected to be based either in Mumbai or Delhi. In addition to the high-level recruitments, the NIIF is calling for principal investment and analyst associates with knowledge of infrastructure and private equity investments.
The Ministry of Finance said in July that the fund had hired 12 staff, including Bose and was looking to recruit more on a global basis.
The NIIF declined to comment on its recruitment process, investment and fundraising activities.
The vehicle, launched by the Modi administration in late 2015, is in the process of raising half of its $6 billion target from Indian and international institutional investors. The Indian government signed several memorandums of understanding with investors from the Middle East and Russia, and provided 200 billion rupees ($3.06 billion; €2.62 billion) and set up the governance structure.
“With steady progress on fundraising efforts with several international institutional investors, a first close of NIIF is expected very soon,” said Arun Jaitley, the country’s finance minister, in mid-July.
It is understood that the fund has yet to make its debut investments in the country. However, it committed to a £500 million ($654 million; €559 million) Green Growth Equity Fund, as a sub-vehicle in partnership with the UK government and issued a request for proposals regarding this green fund with its deadline due last month.