KKR Appoints Sumanth Cidambi and Vijay Padmanabhan as Directors in its India Credit Business
December 04 2018 - 5:22AM
Business Wire
Appointment Aimed at Meaningfully Scaling
Credit Operations in India
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20181204005484/en/
Media
For KKR Asia:Cara MajorCara.Major@KKR.com
For KKR India:EdelmanSiddharth Panicker,
+91-9820-857-522Siddharth.Panicker@Edelman.com
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