NIIFL appoints Actis' Sanjiv Aggarwal as chief executive officer

Bengaluru: Government backed National Investment and Infrastructure Fund Limited has appointed Sanjiv Aggarwal as its chief executive officer and managing director. Aggarwal joins NIIFL from UK based private equity firm Actis, where he was a partner and most recently in charge of its energy investments in Asia, including in India.

Mint was the first to report on the development last month. At NIIFL, Aggarwal succeeds Rajiv Dhar, who served as interim CEO and MD from May, the company said. Aggarwal’s entry into the quasi sovereign wealth fund comes at a time when infrastructure investment has become central to India’s economic growth strategy.

Actis under Aggarwal sold its Indian renewable energy platform Sprng Energy in April 2022 at an enterprise value of $1.55 billion to energy major Shell Plc. Also under his leadership, Ostro Energy was sold to ReNew Power Ventures in 2018 at an enterprise value of $1.5 billion. Aggarwal had previous stints with Citigroup and ANZ Investment Bank in the Indian energy and infrastructure sectors.

NIIF, which is 49% owned by the government, manages over $4.9 billion of equity capital commitments across its four funds—master fund, fund of funds, strategic opportunities fund, and India Japan Fund. The government is trying to improve the efficiency and speed of executing infrastructure projects under the PM Gati Shakti programme that brings various implementing agencies together.

India also offers tax incentives for overseas investments in the country’s infrastructure sector. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.