Global financial services major Citigroup has appointed Sunil Nair as head of its private equity business in India. Nair, who is currently the managing director and head of Citi Venture Capital International (CVCI) in central and eastern Europe, Middle East and Africa, has been given the additional responsibility to manage its investment activities in India as well. He will take charge with immediate effect, said a company statement.
Earlier, the India business of CVCI was headed by PR Srinivasan, who will be leaving the firm in the next few months, the statement added. Srinivasan had been the managing director and India region head of CVCI since 2008.
Dipak Rastogi, CEO, CVCI, said, “India is a key market where CVCI has invested approximately $1.1 billion across approximately 40 transactions. Nair is a senior member of the CVCI management team and one of the most experienced and successful investment professionals in emerging markets private equity. This move will help us further leverage CVCI’s global expertise while investing in India.”
Nair has over 15 years of experience in financial services, including 11 years in private equity play. He joined Citi (Salomon Smith Barney, the formerly investment banking operations of Citigroup) in 1997, and later moved to its private equity business in 1999. He was one of the founding partners of CVCI in 2001. Prior to that, he has worked with McKinsey & Company.
Nair has experience in structured private equity investments across buyouts, expansion capital, privatizations, restructurings, and industry consolidations in the emerging markets including India, Russia, Turkey, Poland, South Africa and Egypt.
CVCI currently has over $6 billion assets under management, and has presence in Singapore, Mumbai, New Delhi, Hong Kong, London, New York, Tokyo and Santiago.