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Mumbai, 11 March 2026: Shri S. Ramann, Chairperson, Pension Fund Regulatory and Development Authority (PFRDA), joined a fireside chat with S. Sriniwasan, Managing Director, Kotak Alternate Asset Managers, and Vice Chairperson, IVCA, on Day 1 of IVCA Conclave 2026. With Vision to Value: The New Era of Indian Alternate Capital as the theme of the Conclave, their session focused on long-term capital formation and the evolving investment landscape in India.
During the conversation, Shri Ramann highlighted the growing role of pension capital in strengthening India’s financial markets and supporting sustainable economic growth. He emphasised that deeper domestic institutional participation is critical for market stability and broadening access to long-term savings instruments.
“We’ve put this together with the NPS Trust, which holds the assets on behalf of subscribers. What we’re talking about is an AUM of about ₹17 trillion, and we have earmarked 1% of that for investment into AIFs. We’ve also got the benchmarks ready thanks to CRISIL, so the structures are now in place and it’s really about how efficiently we execute the process,” he said.
He also emphasised that improving governance standards, enhancing risk management frameworks, and aligning regulatory policies with global best practices will be vital to building a resilient and inclusive retirement savings system.
“It goes down to a matter of disclosure, trust, and the ability of the ecosystem to demonstrate transparency and efficiency. Each fund manager and GP has the responsibility to meet the governance standards that institutional capital expects,” Shri Ramann added.
The IVCA Conclave, the annual gathering of India’s alternate capital ecosystem, convened regulators, policymakers, domestic and global investors, and industry leaders to explore the opportunities and challenges shaping this dynamic landscape.
About Shri S. Ramann
Shri S. Ramann assumed charge as the Chairperson of the Pension Fund Regulatory and Development Authority (PFRDA) on 20 June 2025, following his appointment by the Government of India.
An officer of the Indian Audit and Accounts Service, he brings extensive experience in public finance, financial regulation, and institutional governance. Prior to his appointment at PFRDA, he served as Deputy Comptroller and Auditor General, and Chief Technology Officer in the Office of the Comptroller and Auditor General of India.
Shri Ramann has previously held key leadership positions, including as Chairman and Managing Director of the Small Industries Development Bank of India, Managing Director and Chief Executive Officer of National E-Governance Services Ltd, and Executive Director at the Securities and Exchange Board of India. He has also served as Principal Accountant General of the State of Jharkhand.
He holds a Bachelor’s degree in Economics and an MBA from the University of Delhi. He also possesses an MSc. in Financial Regulation from the London School of Economics and Political Science, an LLB, and professional certifications, including Certified Internal Auditor and Chief Digital Officer credentials.
About Indian Venture and Alternate Capital Association (IVCA):
The Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 500+ funds with a combined AUM of over $350 billion. Our members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.
