Alternative assets manager Kohlberg Kravis Roberts & Co (KKR) has appointed Anand Sinha, former deputy governor of the Reserve Bank of India (RBI) as an industry advisor to the firm, it said on on Thursday.
Sinha, who was the deputy governor of the RBI between January 2011 and January 2014, was in charge of, among others, regulation of commercial banks and non-banking financial companies. He spent 37 years at the central bank and was closely involved in the development of major regulatory and supervisory policies for commercial banks and banks and banking sector reforms in India.
He has a master's in Physics from IIT Delhi and has represented India at the Working Group on ‘Enhancing Sound Regulation & Strengthening Transparency’ set up by the G20 in the wake of the financial crisis. He was chairman, governing council of the Institute for Development and Research in Banking Technology (IDRBT), a research and development institution on financial sector technology, set up by RBI. Sinha was also RBI's nominee member on the board of the Securities and Exchange Board of India (SEBI).
KKR, which is known for buyouts internationally, also does growth equity investments and has an active credit funding business in the country. It has also backed a few third-party NBFCs in the country such as Magma Fincorp and is creating a new NBFC with Singapore's sovereign fund GIC to invest in the real estate sector.
KKR said Sinha will support the PE firm in its investments and help it build out multiple asset class platforms in India.
“His valuable experience will enhance KKR's ability to provide long-term debt and equity capital to Indian companies, helping them scale their businesses while being mindful of risk management and regulatory requirements,” Sanjay Nayar, member and CEO of KKR India, said.
Industry advisors at KKR include current and former senior executives who bring specific industry focus to the investment advisory firm.
Besides its investment team in Mumbai, KKR also counts former CEO of Ranbaxy and former director of RBI, DS Brar as one of its senior advisors globally.
(Edited by Joby Puthuparampil Johnson)