Mumbai: Prashant Purker, current executive director at ICICI Venture Funds Management Co. Ltd, has been promoted as managing director and chief executive, ICICI Bank said on Tuesday. Purker will replace Vishakha Mulye, who has joined as executive director on the board of directors of ICICI Bank.

Purker has over 21 years of experience in global markets, across equity and debt instruments. Prior to ICICI Venture, Purker was managing director and head, global finance, India, at Nomura India and with the Lehman Brothers India in the investment banking division, according to the company’s website.

Prior to that, Purkar spent over five years with ICICI Bank where his last position was head, global principal investment and trading group.

In private equity, ICICI Venture manages three third-party capital funds under India Advantage Fund Series with aggregate original corpus of $1.45 billion. It also runs AION Capital Partners, the $825 million special situation fund in India, launched along with global private equity firm Apollo Global Management Llc.

In real estate, ICICI Venture manages two funds with aggregate original corpus of $600 million. Vishakha Mulye, former executive director of ICICI Lombard General Insurance Co. Ltd, had taken over the reins of ICICI Venture in 2009, when Renuka Ramnath quit as managing director and chief executive.

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