The government will soon announce the name of CEO for India's first sovereign wealth fund NIIF as the interview of the shortlisted candidates was completed last week.
"Interview for the shortlisted candidates for the post of CEO of NIIF (National Investment and Infrastructure Fund) has just been completed. The name of successful candidate will be announced soon," a senior Finance Ministry official told PTI.
After the due official process, the name of the successful candidate would be announced, the official added.
Candidates from both private and public sector experiences faced the search-cum-selection committee headed by Economic Affairs Secretary Shaktikanta Das for selecting a CEO of NIIF.
The government in December had set up the Rs 40,000-crore NIIF, which is an investment vehicle for funding commercially viable greenfield, brown-field and stalled projects.
The Finance Ministry had signed MoU with Abu Dhabi and Russian nano technology company and is also having discussions with some funds with the UK for investments in NIIF.
While the government will invest Rs 20,000 crore in NIIF, the remaining amount will come from private investors.
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.
