Arun Nanda appointed as 3i India chairman

Nanda was previously Infrastructure Sector President at Mahindra and Mahindra (M&M), where he led the Indian company's entry into the infrastructure and services sector through the formation of a number of companies in construction, leisure, property development and in infrastructure privatisation projects.

"This is a high profile appointment which reinforces our commitment to managing our existing investments and maximising value for our shareholders and the limited partners in our funds," 3i said in a statement.

3i focuses on mid-market private equity, infrastructure and debt management across Europe, Asia and the US. Last February Samir Palod, was appointed as managing director for India after Anil Ahuja, then 3i's managing partner and head of Asia, quit the company.

3i later announced that 3i Infrastructure will make no further investments in India as the $1.2 billion India Infrastructure Fund has not delivered the capital growth expected.

3i Infrastructure had committed $250 million to the India fund for early-stage infrastructure investments, expected to deliver gross returns of around 20% through the fund's life. However,  according to the company's 2013 annual financial report, the unit suffered significant valuation volatility and brought "an element of volatility to the total return."

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