India focused private equity firm ChrysCapital Advisors LLP has appointed former SBI chairperson Arundhati Bhattacharya as an advisor.
According to a report in The Economic Times, Bhattacharya will advise on firm's strategy and investments. She will be working with ChrysCapital managing partner Kunal Shroff and other partners.
Established in 1999, ChrysCapital is a leading India focused investment firm with approximately $3 billion of assets under management across seven funds. Its marquee investors include institutions with a long-term horizon such as sovereign wealth funds, endowments, pension funds, fund of funds etc.
ChrysCapital's current investments in financial services include South Indian Bank, NSE, HeroFinCorp, Magma, AU Small Finance Bank and Vartha.
Its past investments include Axis Bank, Yes Bank, Karur Vysya Bank, Shriram City, Federal Bank, Shriram Finance, ING Vysya Bank, Bajaj Auto Finance, Mahindra Finance, etc.
The company claims to have made over 80 investments and returned over $4 billion to investors through 65-plus exits
PE firms had hired several industry veterans in advisory roles as part of expanding the investment horizon. Former Reserve Bank deputy governor Anand Sinha had joined global private equity fund KKR as an industry advisor.
Bhattacharya joined SBI in 1977 as a probationary officer and went on to become the first woman to head the bank as Chairman in 2013. After a four-year stint at the helm, she retired from the SBI last year in October.
In her 40-year career, Bhattacharya held several positions at the SBI. She handled various departments such as foreign exchange, treasury, retail operations, human resources and investment banking. Bhattacharya was also the chief executive of SBI's Capital Markets.
Under her tenure as the chairperson of SBI, Bhattacharya took several technology initiatives such as launching fully digital branches and wallet 'Buddy'.