New Delhi: Citigroup today said it has appointed Sunil Nair as head of its private equity business in India.
Nair, who is managing director and head of Citigroup’s private equity arm Citi Venture Capital International’s (CVCI) investment activities in Central/Eastern Europe, Middle East and Africa, would assume additional charge of India with immediate effect, Citi said in an issued statement.
“Given its attractive and sustained GDP growth, strong investment fundamentals and the emergence of a large affluent middle class, India is one of the most attractive markets globally from an investment perspective. I look forward to further building and developing the CVCI franchise in India,” Nair said.
Nair joined Citi/Salomon Smith Barney in 1997. He then joined Citi’s private equity business in 1999 and was one of the founding partners of CVCI in 2001. Prior to Citi, Nair was with McKinsey & Company.
Nair is replacing P R Srinivasan, who was the head of the company’s private equity operations in India and will be leaving CVCI in the next few months citing personal reasons, Citi added.