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Altico Capital appoints Kidwai as independent director
Naina Lal Kidwai retired as executive director on the Board of HSBC Asia Pacific and chairperson of the India, after a 13-year stint.
Altico Capital India Private Limited, a Mumbai-based non-banking financial company, announced the appointment of Naina Lal Kidwai as an Independent Non-Executive Director.
"Ms Kidwai’s presence on the Board and her vast experience in financial markets landscape will significantly assist us in the growth of our business, further strengthen governance, enhance our brand and reputation, and optimise the value creation for all our stakeholders," Sanjay Grewal, Chief Executive Officer of Altico Capital said.
On her appointment, Kidwai said that "I am pleased to join the Board of Altico Capital and work with its marquee shareholders and directors who have articulated their long term commitment to the platform through the high upfront capitalization and their cohesive vision towards wholesale lending in India. I am also pleased to work with an experienced senior management team on all aspects of the enterprise build out including strategy, systems, policies and procedures required for robust growth."
Altico Capital is backed by strong financial sponsors in Clearwater Capital Partners (a credit and special situations platform based in the Asian region which has invested close to $5bn across 350 companies over the past 15 years), Abu Dhabi Investment Council (one of the largest sovereign wealth funds managing over a $100bn in assets) and Varde Partners (a global alternative investment firm headquartered out of Minneapolis-USA, focused on investing capital and resources across a broad array of sectors including RE, infrastructure and the financial sector. Varde has invested over $40 billion since inception and is currently managing investments world-wide).
The company’s current focus is on senior secured lending to residential projects in the Real Estate sector across Tier-1 cities in India which include Mumbai, NCR, Chennai, Bangalore, Pune and more recently Hyderabad which is rebounding with the increased political stability.
Naina Lal Kidwai retired as executive director on the Board of HSBC Asia Pacific and chairperson of the India, after a 13-year stint. She is on the boards of Larsen & Toubro Limited, Advent Private Equity, Nestle SA., Cipla Limited, Max Financial Services Limited and Chairperson of South Asia Harvard Business School. She is currently involved with several Industry Associations and has been a past President of FICCI.