Appointment Aimed at Meaningfully Scaling Credit Operations in India
MUMBAI, India–(BUSINESS WIRE)–
KKR today announced the appointment of Sumanth Cidambi and Vijay
Padmanabhan as Directors for the firm’s credit business in India. Both
the appointments will help KKR deepen and scale its existing India
credit strategy and move into adjacencies.
KKR has been the pioneer in developing private high-yield and structured
credit investing in India. The firm operates in the credit space through
an NBFC and Alternative Investment Funds, suitably complemented with
global capital pools. Since 2009, the firm has executed on over 140
transactions in India, valued at close to US$6 billion.
Speaking on the appointments, BV Krishnan, Member, KKR, and CEO, KKR
India Financial Services, said: “Both Sumanth and Vijay join our team at
a very opportune time. Sumanth brings to us the much necessary
owner-operator mindset and has a track record of delivering sustainable
value. He will complement our focus on building capabilities in the
operational turnaround and workout areas, which are becoming a critical
differentiator in credit investing in India.”
He further added, “Vijay brings on board deep credit underwriting
experience. He has a unique risk-reward perspective, having worked in
the UK and India. His skill sets and understanding of the domestic
eco-system give him a wholesome understanding of what it takes to
succeed in this space. His ability to underwrite across the capital
structure will be a critical element in our plan to further scale our
platform where we have been the market leader in private high-yield
investing.”
With nearly two and a half decades of diversified industrial experience,
Sumanth Cidambi has worked extensively with corporate boards and senior
management teams in Asia, Europe and the US, to create sustainable
value. Leveraging his deep experience in operations restructuring and
business turnarounds, he will work closely with KKR’s credit portfolio
companies in India to deliver identified and specific value. Sumanth’s
addition highlights the firm’s strong view that operational involvement
in companies is a dimension that is critical to delivering value to
stakeholders, and risk managing outcomes.
Vijay Padmanabhan has extensive experience in credit underwriting and
distress investing, in the UK and India, including in Old Lane, Fidelity
Investments, SBI Funds Management, PricewaterhouseCoopers, and Edelweiss
Alternative Asset Advisors.
Early this year, KKR’s India Financial Services made two Director level
hires viz. Jigar Shah as the Legal and Compliance Head for the firm in
India, from JP Morgan, and Niraj Karia as a senior credit originator,
from Kotak Investment Bank.
KKR has been investing in India since 2006. In addition to a strong
private equity practice, KKR is highly focused on credit, capital
markets and real estate opportunities in India. Its credit portfolio in
India includes, but is not limited to, Enzen Global Solutions, Amanta
Healthcare and Walchandnagar Industries.
About KKR
KKR is a leading global investment firm that manages multiple
alternative asset classes, including private equity, energy,
infrastructure, real estate and credit, with strategic partners that
manage hedge funds. KKR aims to generate attractive investment returns
for its fund investors by following a patient and disciplined investment
approach, employing world-class people, and driving growth and value
creation with KKR portfolio companies. KKR invests its own capital
alongside the capital it manages for fund investors and provides
financing solutions and investment opportunities through its capital
markets business. References to KKR’s investments may include the
activities of its sponsored funds. For additional information about KKR
& Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com
and on Twitter @KKR_Co.
About KKR India Financial Services
KKR India Financial Services (“KIFS”) is KKR’s alternative credit
business in India that provides flexible financing to companies via a
unique business model that comprises balance sheet — via a non-bank
finance company —alternative asset management, and capital markets. As
of Nov 30, 2018, KIFS has executed over 140 transactions in India worth
close to US$6 billion.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181204005484/en/
Media
For KKR Asia:
Cara Major
Cara.Major@KKR.com
For KKR India:
Edelman
Siddharth Panicker,
+91-9820-857-522
Siddharth.Panicker@Edelman.com
Source: KKR