ICICI Ventures Hires Ex-Babcock India Chief

(Reuters) – ICICI Venture, the private equity arm of No. 2 Indian lender ICICI Bank (ICBK.BO), has hired Manikkan Sangameswaran, former chief of Babcock & Brown Infrastructure’s BBI.AX India unit, to head its infrastructure business.

Sangameswaran will head the private equity arm’s soon-to-be-launched infrastructure fund, ICICI Venture Chief Executive Vishakha Mulye said.

ICICI Venture also appointed Partha Dey, the head of ICICI Bank’s project finance business, to the fund.

Prior to his role in Babcock, Sangameswaran was the head of ABN Amro’s mergers and acquisition business in India. He was also part of some of the largest M&As involving Indian companies including Tata Steel’s acquisition of Corus. (Reporting by Indulal P.M.; Editing by Unnikrishnan Nair)