KKR-controlled Avendus Capital has appointed former RBL Bank executive Sandeep Thapliyal as managing director and chief executive officer of Avendus Finance, which provides customised financing solutions to its corporates through structured debt, mezzanine, high-yield products, and capital structuring.
Thapliyal joins the Mumbai-based investment bank from RBL where he was head of commercial banking for the last 3.5 years.
Thapliyal has over 22 years of multi-functional experience in commercial banking, corporate banking, investment banking, project finance and asset reconstruction. Prior to joining Avendus, Thapliyal has worked with RBL Bank, Religare Capital Market Ltd, Citibank, Sumitomo Mitsui Banking Corporation and Industrial Finance Corporation of India (IFCI).
Thapliyal is a business management graduate from Delhi University and an MBA from Management Development Institute, Gurgaon.
Ranu Vohra, Managing Director and CEO at Avendus Capital Pvt Ltd, said, “With Sandeep leading this business, we hope to build strong synergies with our existing investment banking and wealth management businesses. We look forward to working along with him and taking our lending business to the next level of growth”
In November last year, alternative investment giant Kohlberg Kravis Roberts & Co Ltd (KKR) bought a controlling equity stake in Avendus Capital in a move that would enable Avendus scaling up its services in wealth management and private equity, besides foraying into NBFC space with credit solutions. Going by its plan, Avendus has been on a hiring spree over several months.
In September, it hired the entire top management of Ambit Investment Advisory that included its CEO Andrew Holland and a team of eleven members.
The business would tap opportunities in the debt and equity space for domestic as well as foreign investors, Vora told VCCircle at the time.
Ambit Investment Advisors managing director Vaibhav Sanghavi would be co-CEO of Avendus’ new business catering to the hedge funds in the long-only and long-short category, Vora had said.
Last month, it hired Dhiren Mehta from its parent private equity firm, to join in the first week of November, as managing director for capital strategies.
In June, Avendus Wealth Management appointed Swati Singh as an executive director and head of fixed income. She was recruited from IIFL Wealth Management.
Among the major exit in the company, Aashish Bhinde, India’s top digital business dealmaker, decided to leave the investment banking firm where he was heading the technology and digital practice. Led by Bhinde, Avendus has closed 60 transactions worth $3.5 billion for internet startups. Avendus closed 14 deals last year and 12 deals in the first half of this financial year.
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