Piramal Enterprises announced the appointment of Kalpesh Kikani as Chief Executive Officer of AUM Alternatives Business managed through Piramal’s subsidiaries and joint ventures.
Kikani comes with over 25 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, according to a statement.
At AION, Kikani led both fundraising and deployment of over $1.25 billion of capital and served on the boards of several of its portfolio companies.
Prior to that, Kikani spent over 15 years at ICICI Bank. He played a significant role in building the bank’s commercial banking business to over $10 billion in assets and the structured finance business to over $5 billion in assets. Before that, he set up and built the bank’s corporate and investment banking business in London to $ 4 billion in assets.
Kikani began his career at ICICI Limited in project finance where he participated in multibillion-dollar corporate and infrastructure financing.
Commenting on the development, Anand Piramal, Executive Director, Piramal Group, said, “We are delighted to welcome Kalpesh to the Piramal family. Kalpesh brings with him rich experience in building an alternatives business of global scale and standard in India, more than a 25-year track record of successfully investing in India and strong relationships with leading global investors.”
Kalpesh Kikani, CEO, Piramal Alternatives, said, “I am excited to join the Piramal team. Piramal Alternatives has a great business model, has partnered with best-in-class global investors, and is uniquely positioned to build a leading homegrown Alternatives business across private debt, private equity, and infrastructure, amongst others.”
Kikani holds a BE degree in Computer Science and an MBA in Finance from Bombay University and is a member of the CFA Institute, USA.
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