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MUMBAI : US private equity (PE) giant KKR has appointed former ICICI Bank chairmanK.V. Kamath as a senior adviser for its operations in India.

Kamath is counted among the most recognized names in India’s financial services sector, having held leadership positions in institutions such as ICICI Bank and most recently as the first president of the New Development Bank, a multilateral development bank established by the BRICS nations. He has also served as the chairman of IT services major Infosys Ltd. Last year, the Reserve Bank of India formed a committee under Kamath to prepare a debt resolution package for sectors and companies impacted by the pandemic.

“We are pleased to welcome K.V. as a senior adviser to our team in India, and are excited to learn from his terrific insights as we continue to invest in the growth of India. K.V. has a truly outstanding track record of working with different stakeholders while building world-class businesses. I’m confident of the value that he will bring to our franchise and businesses," said Gaurav Trehan, partner and chief executive of KKR India.

Kamath’s appointment comes at a time when PE firms such as KKR are looking to invest ever growing sums of capital into India, aiming to acquire large businesses across sectors that stand to benefit from the country’s booming consumption story.

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