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Nippon Life India AIF Management Limited has appointed Ashish Chugani as the Head of Alternative Assets.

In his new role, Chugani will lead strategic initiatives and business operations for the development and management of Nippon Asset Management (NAM) India’s AIF business. He will report to Sundeep Sikka, Executive Director and CEO of NAM India, and will take charge in the new role effective July 1, 2023

Chugani has over 30 years of experience working in companies including Tata Capital, Centrum, Citibank, Arthur Anderson, Cambridge Place Investments Management, Ankar Capital Management, and Antfactory, and has experience in working across multiple investment asset classes.

“We are delighted to have Ashish on board. AIF is the focus for the company, and we believe his expertise across asset classes would help us grow business both domestically and internationally,” said Sikka in a statement.

The AIF business is currently led by Shahzad Madon who is attaining superannuation on June 30, 2023.

Nippon Life India AIF Management Limited is a subsidiary of Nippon Life India Asset Management Limited. The firm has both Category II and Category III AIF licenses which are into real estate, credit, tech/venture capital, and listed equity space.