Govt invites applications for post of NIIF CEO

Government today invited applications for the post of CEO for National Investment and Infrastructure Fund (NIIF), being set up by it with an expected initial corpus of Rs 40,000 crore.
In July, the Cabinet had approved creation of NIIF, a sort of sovereign fund, for development of infrastructure projects, including the stalled ones.
"The Fund is looking to appoint a CEO, who would be responsible for the overall management and operations of the Fund. The ideal candidate should have senior management experience of at least 15 years, of which at least 5 years should be in area of fund management/financial sector.

"Experience in institution building and project execution will be desirable... The compensation for the selected candidate will be in tune with the industry practice," the Finance Ministry said.
The selection of a suitable candidate will be done by a search-cum-selection committee, it said.
Interested candidates can apply within 15 days.

The Fund is set up as a Fund of Funds (Category II Alternate Investment Fund) with a proposed series of funds.
The CEO's responsibilities include, the initial set up activities of the Fund, putting appropriate investment and other relevant policies in place, and fund raising.
Other responsibilities include, coordinating with investors, identifying investment opportunities, analysing them, obtaining necessary approvals, funding, managing the assets post investment and exiting the investments to meet the investment objectives and policy of the Fund.