Abhijit Sen, formerly chief financial officer South Asia at Citigroup, has been appointed as chief administrative officer and chief financial officer of KKR India. He will join the global private equity firm on 1 April 2010.
In his new role, Sen will oversee finance, compliance and administration at KKR in India, the firm said in a statement. He will also have responsibilities with the private equity firm’s finance function in Asia.
At Citigroup, Sen headed the finance function in South Asia for the last 15 years. In his capacity as the CFO for South Asia, he had oversight over the bank’s finance function in India, Bangladesh and Sri Lanka, including acquisitions, strategic planning and divestures.
“Abhijit's vast experience supported by his expertise in finance, strategic planning and mergers and acquisitions will enable us to strengthen KKR's operations in India and throughout the region,” Sanjay Nayar
, CEO and head of KKR India, said in a statement.
Nayar himself joined KKR from Citi in November 2008. He spent 23 years at Citi and was chief executive officer of the group’s India and South Asia operations before joining KKR.
In May 2009, KKR moved director Nathaniel Taylor from its Menlo Park office to Mumbai to bolster its presence in India.
KKR has made three investments in India thus far. The first of its deals was the $900 million investment it made in 2006 to acquire a controlling stake in Aricent, then known as Flextronics Software Systems. In September last year, the firm increased its stake in the company by investing another $255 million in the company alongside Canada Pension Plan Investment Board.
In 2008, KKR invested $250 million for a minority stake in Bharti Infratel, a telecom tower company and subsidiary of Indian telecommunications company Bharti Airtel. In 2009, the firm invested in Max India, a multi-business corporate providing healthcare and life insurance services.