London-headquartered investment firm 3i has hired Arun Nanda as non-executive chairman of its Indian business.
Nanda has more than 40 years experience with Indian utility vehicle and tractor manufacturer Mahindra & Mahindra.
He held a number of senior positions across various divisions of Mahindra & Mahindra including in investment, strategic planning and infrastructure.
As the company’s infrastructure sector president, Nanda led its entry into the infrastructure and services sector and was responsible for launching a number of companies.
3i CEO Simon Borrows said, “We are delighted to welcome Arun as Chairman of our Indian business.
“Arun is a highly experienced business man with an excellent reputation. His insight and advice will be invaluable to our team as we continue to manage our investments to maximise value.”
Last year 3i said it would stop investing in Indian infrastructure via its listed 3i Infrastructure platform, citing inadequate returns.
Copyright © 2014 AltAssets