Citi has named Sunil Nair as head of its private equity business in India. Mr Nair, managing director and head of Citi Venture Capital International’s (CVCI) investment activities in Central/Eastern Europe, Middle East and Africa, will assume additional charge of India with immediate effect.

Mr Nair joined Citi/Salomon Smith Barney (New York) in 1997. He then joined Citi’s private equity business in 1999 and was one of the founding partners of CVCI in 2001. Prior to Citi, he was with McKinsey & Company.

Mr Nair’s experience spans buyouts, expansion capital, privatizations, restructurings, and industry consolidations across markets including India, Russia, Turkey, Poland, South Africa and Egypt, among several others.

Dipak Rastogi, CEO of CVCI, said: “India is a key market where CVCI has invested approximately $1.1bn across approximately 40 transactions. Sunil Nair is a senior member of the CVCI management team and one of the most experienced and successful investment professionals in emerging markets private equity.

“Sunil has also been very involved in our investment activities in India. His appointment to this key role is reflective of CVCI’s strong and continued commitment to invest in India. This move will help us further leverage CVCI’s global expertise while investing in India. PR Srinivasan will be leaving CVCI in the next few months for personal reasons and we thank him for his contribution to the business.”