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ICICI Venture Hires Former Babcock India Chief

By Reuters

  • 17 Jun 2010

ICICI Venture, the private equity arm of No. 2 Indian lender ICICI Bank, has hired Manikkan Sangameswaran, former chief of Babcock & Brown Infrastructure's BBI.AX India unit, to head its infrastructure business.

Sangameswaran will head the private equity arm's soon-to-be-launched infrastructure fund, ICICI Venture Chief Executive Vishakha Mulye said.

ICICI Venture also appointed Partha Dey, the head of ICICI Bank's project finance business, to the fund.

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Prior to his role in Babcock, Sangameswaran was the head of ABN Amro's mergers and acquisition business in India. He was also part of some of the largest M&As involving Indian companies including Tata Steel's acquisition of Corus.

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