British International Investment names new India head

 British International Investment names new India head

Manav Bansal

British International Investment (BII), the UK’s development finance institution, has named a new India head to oversee its plan to invest up to $3 billion in the country by 2026.

BII, previously known as CDC Group Plc, has appointed Manav Bansal as its new head of India and managing director. Based in Mumbai, Bansal will lead a 40-member team and report directly to Managing Director and Head of Asia at BII, Srini Nagarajan, who previously covered India.

Nagarajan will be taking on a wider role as part of BII’s expanded remit into the Indo-pacific region.

The appointment comes a couple of months after BII hired Satish Chavva, a former executive of Oman India Joint Investment Fund, as the South Asia head of its direct private equity vertical.

Bansal’s focus will be on delivering BII’s 2022-26 strategy with the dual mandate of supporting private-sector growth and long-term development goals in India, in particular the country’s ambitions to meet renewable energy capacity by 2030.

Bansal brings to BII over 20 years’ experience as a private equity investor and investment banker in infrastructure, healthcare and technology. He has held various senior positions including most recently as CEO for Neev Funds, which is backed by the UK government and comes under State Bank of India.

Prior to this, he worked for KPMG and PwC, leading initiatives for corporate advisory, cross-border M&A, and policy advisory to governments including India. Bansal is a civil engineer, graduating from Jamia Millia Islamia University and holds an MBA from the Management Development Institute.

BII recently also named four new managing directors. These include Indian-origin executive Abhinav Sinha as managing director and head of technology and telecoms.

CDC Group had announced the rebranding in November last year and formally became BII on April 4. At the time, it said the rebranding was part of a refreshed strategy for the five-year period ending in 2026. It said it would scale in Africa and pivot to Asia and, in particular, Southeast Asia to provide green finance as part of the new strategy.

The firm is already one of the most active investors in emerging markets across Asia and Africa, both via direct deals and commitment to third-party managed private equity and venture capital funds.

Vivek Sinha

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