AIF Capital hires Rajeev Kalra from HSBC

AIF Capital, an Asia-focused private equity firm, which is based in Hong Kong, has added Rajeev Kalra to its India office. Kalra joins AIF Capital from HSBC Private Equity.

AIF Capital, an Asia-focused private equity firm based in Hong Kong, has appointed Rajeev Kalra as an executive director in New Delhi to work with Ajay Lal, AIF’s only India-based investment professional.

Kalra joins AIF Capital from HSBC Private Equity where he has been the latter’s chief representative for India since 2002. Kalra has been with HSBC Private Equity since 1996, and worked on a number of transactions across sectors spanning financial services, outsourced services, IT products, telecom infrastructure and medical equipment manufacturing. Before HSBC, he worked for SBI Capital Markets, a subsidiary of the State Bank of India. 

AIF Capital is investing from a third private equity fund which closed on $435 million (€306 million) at the start of this year. HSBC Private Equity is understood to be raising a new fund.

In India, AIF has invested in Bharti Airtel, a telecoms group, Yes Bank, GPT Steel, the country’s largest tinplate plant being set up in Gujarat, and more recently, Catholic Syrian Bank.

AIF Capital has 17 investment professionals in both Hong Kong and India.