Altico Capital names Naina Lal Kidwai as non-executive director
Other | Photo Credit: Reuters

Mumbai-based non-banking financial company (NBFC) Altico Capital India Pvt Ltd has appointed Naina Lal Kidwai as an independent non-executive director on its board, according to a press release.

Kidwai retired as executive director on the board of HSBC Asia Pacific and chairperson of HSBC India last year, after a 13-year stint. 

She is on the boards of Larsen & Toubro Limited, Advent Private Equity, Nestle SA, Cipla Ltd and Max Financial Services Ltd besides being chairperson of South Asia Harvard Business School. She is currently involved with several industry associations and has previously been president of FICCI.

“Kidwai’s presence on the board and her vast experience in the financial markets landscape will assist us in the growth of our business, strengthen governance, enhance our brand and reputation and optimise the value creation for all our stakeholders,” said Sanjay Grewal, chief executive officer of Altico Capital.

Kidwai holds an MBA from Harvard Business School. 

Last year, Asia-focused international special situations investment advisory firm Clearwater Capital, which does both PE-style equity deals as well as debt transactions, rechristened its existing NBFC Clearwater Capital Partners India as Altico Capital.

Clearwater has invested close to $5 billion across 350 companies over the past 15 years.

Besides Clearwater, Altico Capital is backed by Abu Dhabi Investment Council and US-based  global alternative investment firm Varde Partners.

While Abu Dhabi Investment Council is one of the largest sovereign wealth funds managing over a $100 billion in assets, Varde Partners is focused on investing capital and resources across an array of industries, including RE, infrastructure and the financial sector. 

Varde has invested over $40 billion since inception and is currently managing investments world-wide.

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