Mumbai: The CEO of KKR’s non-banking financial company (NBFC) BV Krishnan has stepped down due to personal reasons. In a top-level rejig at global private equity fund, KKR India’s CEO Sanjay Nayar will take over the reins of KKR India Financial Services Pvt. Ltd, said two persons close to the development.
“Some of the bets in the credit business have not gone down well," said one of the persons cited above. KKR is one of the first global private equity firms to set up lending operations in India, as early as a decade ago.
KKR India Finance, a non-deposit taking NBFC, which started operations in October 2009, and is engaged in providing structured funding, promoter financing, acquisition funding and mezzanine financing, among others.
