IDFC Project Equity, a leading infrastructure equity investment manager, has elevated Aditya Aggarwal to the post of managing director incharge of investments. Aggarwal was previously a senior member in the energy team at IDFC.
IDFC Project Equity manages the India Infrastructure Fund (IIF), a SEBI-registered domestic venture capital fund focused on long-term equity investments in a diversified portfolio of infrastructure assets in India. As of September 2009, IIF has Rs 3,800 crore (about $927 million) under management.
Aggarwal joined the firm in April 2007. He has over 14 years of experience in banking and financial services space with focus on project finance, project development and advisory services, he informed VCCircle. In the last 12 months, he led two of the biggest transactions of the fund in energy space that include GMR Kamalanga Energy Ltd and Essar Power Ltd.
Prior to IDFC, Aggarwal was with Standard Chartered Bank where he has primarily worked on structured corporate finance and project finance transactions.
IIF is an initiative between the government of India and leading Indian and global financial institutions to deploy $5 billion in capital for infrastructure projects in India. It targets investments in transport, energy and utilities, telecommunications and urban infrastructure.
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