Global Environment Fund hires ex-IDFC PE chief Luis Miranda
Luis Miranda, founder of Infrastructure Development Finance Co’s (IDFC) private equity business, has joined Global Environment Fund (GEF) as a senior advisor. Based in Mumbai, Miranda will contribute to GEF’s private equity investments in India and South Asia.
Miranda served as president and CEO of IDFC Private Equity from 2002 until 2010 and as chairman until 2011. Prior to that, he held a variety of positions at ChrysCapital Partners, HSBC, Citibank, KPMG and PricewaterhouseCoopers. He also was part of the founding team of HDFC Bank.
GEF is based in Washington, DC and has been investing in energy, resource and environment-related assets for over 20 years. It has approximately $1 billion in assets under management across a range of global and emerging markets-focused funds.
GEF's Asia investment activity has been in China and India exclusively. In China, it has backed Beijing DQY Agriculture Technology and Duoyuan Global Water - both of which have since been exited - as well as UPC Renewables China.
In India, current portfolio companies include Sai Sudhir Infrastructures and Greenko Group, the wind energy player that has received backing from TPG Capital and last year established a joint venture with General Electric. GEF's other investment in the country, REVA Electric Car Company, has been exited.
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