CDC hires India director from Actis

Srinivasan Nagarajan will join the UK-based development finance institution in 2013. The news comes shortly after the departure of Asia head Anubha Shrivastava.

CDC Group has hired Srinivasan Nagarajan as regional director for investments in India, a spokesman from the London headquartered LP confirmed to PE Asia. His appointment will be effective from mid-2013 and he will be based in Bangalore. 

Nagarajan joins from emerging markets private equity firm Actis, where he was director for financial services in India. He joined Actis in 2004 when the firm spun out of CDC. Nagarajan has previously held positions at CDC and Standard Chartered. 

The spokesman for CDC said, “As CDC's regional director in India [Nagarajan] will be the main contact on the ground for our investment business in India and South Asia. He'll act as our eyes and ears in India and will be involved in supporting our direct, debt and funds investment teams as they make investments in the country.”

CDC has experienced turnover in recent years, with the head of its Asian investment portfolio Anubha Shrivastava leaving the firm in August. The move came less than a year after CDC appointed its new chief executive Diana Noble. The chief executive role had been temporarily filled by Rod Evison following the departure of Richard Laing.

CDC is a UK development finance institution with $2.6 billion in assets under management, according to PE Asia’s data division. The firm has a 100 percent allocation to alternative investments, with Aureos Capital and Actis both spinning out from the firm.