Altico Capital’s ex CEO Sanjay Grewal joins KKR

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Mumbai: Sanjay Grewal, former chief govt officer (CEO) of troubled actual property financier Altico Capital, has joined world personal fairness fund KKR & Co. Grewal will head the newly fashioned renewable power vertical of KKR in India, mentioned two folks conscious of the event.

Following the default on funds and tussle with lenders, Grewal had stop Altico in September.

Sanjay Grewal has 30 years of infrastructure and actual property sector expertise throughout Asia. Previous to Altico, Sanjay Grewal was the Company & Funding Banking Head of Infrastructure Growth Finance Firm, and he co-led IDFC’s core $11 billion infrastructure enterprise and structured finance transactions.

He held senior positions with Citi, Lehman Brothers and Worldwide Finance Corp, the funding arm of the World Financial institution.

A KKR spokesperson declined to remark whereas Grewal didn’t reply to calls and messages.

In 2018, KKR had employed Hardik Shah, previously with Brookfield Asset administration, as director to go its infrastructure investments in India.

KKR, an lively investor in infrastruture area globally, has made two investments in India from its Asia infrastructure fund. Lately, the fund had acquired 5 photo voltaic power property from India’s Shapoorji Pallonji Infrastructure Capital in a deal price about Rs1554 crore ($204 mn). The portfolio includes 169 MW property in Maharashtra and property with a capability of 148 MW in Tamil Nadu.

It had invested $400 mn final yr to take management of India Grid Belief, an infrastructure funding belief, together with Singapore’s GIC. KKR is within the means of elevating its debut Asia infrastructure fund, with a $three billion goal.

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