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Kalpesh Kikani appointed as CEO of Piramal Alternatives

·1-min read

New Delhi, Feb 24 (PTI) Diversified group Piramal Enterprises Ltd on Wednesday said it has appointed Kalpesh Kikani as Chief Executive Officer (CEO) of its Rs 11,000 plus crore AUM Alternatives business managed through its subsidiaries and joint ventures.

The vertical leverages Piramal Group's long standing partnerships with marquee global investors such as CDPQ, CPPIB, APG, Ivanhoe Cambridge and Bain Capital.

'While globally, alternative assets have grown rapidly over the last 10 years to over USD 11 trillion, in India the asset class has grown much faster at over a 20 per cent CAGR, making it one of India's highest growth opportunities. Our desire is to create a world class Alternatives business across multiple asset classes that helps fill a significant deficit of long-term risk capital needed by Indian businesses as they help fuel India's journey to a USD 5 trillion economy,' Piramal Group Executive Director Anand Piramal said in a statement.

The Alternatives business is another step in building a new age, digitally driven, diversified financial services conglomerate at Piramal, he added.

Kikani comes with over twenty five years of expertise in investing and financial services including a decade as founding Managing Director at AION Capital (a JV between Apollo Global Management and ICICI Group).

Previously, he has spent over 15 years at ICICI Bank where he played a significant role in building the bank's commercial banking business to over USD 10 billion in assets and the structured finance business to over USD 5 billion in assets. PTI MSS SHW SHW