Anubha Shrivastava leaves CDC
Anubha Shrivastava has left CDC, the UK government's development finance arm, where she served as managing director with responsibility for Asia investments.
Shrivastava, who joined CDC in 2007, oversaw the group's activities in South Asia and Southeast Asia, as well as China. Prior to CDC, she worked for the private equity group of General Motors Asset Management and Performance Equity Management.
According to a statement released last Friday, Shrivastava has quit to pursue other opportunities. A replacement is being sought. In the meantime, new hire Hiti Singh and existing staff member Clarisa De Franco have taken on the role of portfolio director.
India has been the single largest market of CDC in terms of investments. In 2011, the country accounted for 21% of total assets, followed by China on 18% and South Africa on 12%. The group's India portfolio includes Ascent Capital, Avigo Capital Partners, Baring Private Equity Partners India, BTS Investment Advisors, IDFC Private Equity and India Value Fund Advisers.
Last year CDC said it would change its strategy to focus exclusively on South Asia and sub-Saharan Africa, following a year-long review of its activities. It also plans to resume direct investments rather than operating solely as a fund-of-funds. Direct investments and debt investments are each expected to account for up to 20% of the group's portfolio by 2015.
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