Actis names new infra partner in India

The emerging markets-focused private equity firm has promoted Sanjiv Aggarwal, who heads Actis' South Asian Infrastructure business, to partner.

Actis, the emerging markets-focused private equity firm, has promoted four of its directors to partners, including Sanjiv Aggarwal, who heads the firm's South Asian Infrastructure business. 

Aggarwal has been a director in the infrastructure group of the UK-based firm for two years now. Previously, he served as head of Power, Energy, Chemicals, Mining & Transportation Investment Banking for Citi in India.

The appointments are effective immediately, Actis said in a statement.

Aggarwal is the fourth infrastructure-focused partner at Actis and the only Mumbai-based infrastructure partner, according to the firm’s website. 

Shomik Mukherjee, who focuses on consumer and retail investments, was also promoted to partner in Actis' Mumbai office.  Actis also promoted as partners Tao Sun, who focuses on the education sector, and Dong Zhong, who focuses on the consumer and retail sector. Both are based in Beijing.

JM Trivedi, head of South Asia at Actis, said in the statement that the promotion of Aggarwal and Mukherjee “greatly strengthens our bench strength in India”.

Actis has focused its infrastructure investments since 2002 primarily in power.  Many of these are owned by Actis portfolio company Globeleq, which focuses on emerging markets-power investments. 

In October 2009 Actis closed its second infrastructure fund on $750 million.  The fund targets transport as well as power. That fund fell short of its target of $1.25 billion. 

In a November 2009 interview with Infrastructure Investor, senior partner Paul Fletcher said he thought “infrastructure” could potentially be dropped as a label for future funds.

“There is a big labeling issue here. Infrastructure has had a torrid 12 months as a label and I think it is going to be an unhelpful fundraising label for the emerging markets going forward,” he said at the time.

Actis is a private equity firm managing $4.7 billion in funds with offices in Kenya, Nigeria, Singapore, India, Egypt, South Africa, China, the UK and Brazil.