National Investment and Infrastructure Fund (NIIF), a quasi-sovereign wealth fund, on Thursday said its board has appointed Rajiv Dhar as interim managing director and CEO.

• The appointment is effective May 11, NIIF said in a statement.
• The planned succession follows Sujoy Bose's request to relieve him from his current responsibilities as MD and CEO, it said.
• Dhar, executive director and chief operating officer, has been part of NIIF since 2017.
• The government had set up the Rs 40,000-crore NIIF in December 2016 as an investment vehicle for funding commercially viable greenfield, brownfield and stalled projects. It was envisioned as a mother fund with several sectoral feeder funds.
• Government capital in NIIF covers three funds -- Master Fund, Fund of Funds, and Strategic Opportunities Fund (together referred to as NIIF) -- all managed by the same investment manager (NIIF Limited).