B V Krishnan has stepped down as the Chief Executive Officer (CEO) of KKR India Financial Services Pvt. Ltd.
Sanjay Nayar, the CEO of KKR India will now be taking care of Krishnan’s position and responsibilities.
KKR is one of the first global PE firms to launch its lending operations in India. KKR India Financial Services, a non-deposit taking Non-Banking Financial Company (NBFC), which began its operations in October 2009, deals with structured funding, promoter financing, acquisition funding, and mezzanine financing. The NBFC has a loan book worth Rs 6,000 crore and 50 active loans.
Krishnan’s exit has been confirmed by the company’s spokesperson. “KKR remains committed to the Indian market for the long-term and we continue to recognise the important role KKR India Financial Services plays in supporting the local economy. Through KIFS, we will continue to provide the necessary capital to the home-grown businesses that have difficulty accessing flexible credit to help carry out their business plans,” the spokesperson said.
