You are using an older browser version. Please use a supported version for the best MSN experience.

IL&FS Investment Managers promotes Krishna Kumar as CEO

LiveMint logoLiveMint 29-05-2017 Swaraj Singh Dhanjal

Mumbai: IL&FS Investment Managers Ltd on Monday promoted its senior managing partner Krishna Kumar as its chief executive officer.

Kumar, who has 23 years of experience in financial services and infrastructure investment, is also co-CEO of Standard Chartered IL&FS Asia Infrastructure Growth Fund, a $660 million infrastructure fund focused on Asia

IL&FS Investment Managers is the private equity (PE) business of diversified infrastructure group Infrastructure Leasing and Financial Services Ltd (IL&FS). Kumar was one of the founding members of the PE business.

Archana Hingorani, chief executive of IL&FS Investment Managers decided to quit last month, citing personal reasons.

IL&FS Investment Managers has assets under management (AUM) of around $3.2 billion. The fund manager has made over 163 investments across 13 funds since it started operations in 1996.

The change at the top comes at a time when the firm has a new sector agnostic PE fund to deploy and is also in the market to raise another infrastructure fund.

In November, the PE fund disclosed to stock exchanges that it had closed its sector-agnostic PE fund Tara India Fund IV at $60 million. The previous version of this fund—Tara India Fund III— had raised $225 million in 2008.

In July 2016, Mint reported that IL&FS Investment Managers Ltd was in the market to raise a $500 million infrastructure fund to invest in roads and energy projects.

More From LiveMint

image beaconimage beaconimage beacon