Anubha Shrivastava, CDC's head of Asia investments, quits

Anubha Shrivastava, the managing director responsible for Asia investments at the UK government’s development finance institution CDC Group Plc, has quit.

CDC is one of the largest investors in India-focused private equity (PE) funds. Shrivastava has quit to pursue other opportunities, the firm said in a statement. It could not be immediately ascertained where Shrivas-tava is joining. She could not be reached for comments.

So far, CDC has invested about $1 billion (Rs 5,300 crore) in various Indian PE/venture capital firms such as Ascent Capital, Avigo Capital Partners, Baring PE Partners India, BTS Investment Advisors, ICICI Venture, IDFC PE, India Value Fund Advisers, Multiples Investment Advisors, New Silk Route Advisors and Seedfund.

India is the single largest market in terms of investments for the CDC group, which has assets worth $4 billion. India accounts for around 21 per cent of assets, followed by China at 18 per cent, according to its latest annual report.

Shrivastava, who joined CDC in 2007, was also responsible for the investment portfolio spanning across South and Southeast Asia and China. She had worked with General Motors Asset Management’s PE group in New York and also at Performance Equity Management. Shrivastava, an economics graduate from Lady Shri Ram College in Delhi and a master’s degree holder in finance from London Business School, started her career in Arthur Anderson.

“A replacement for Shrivastava is being sought,” a CDC statement added.