Nippon Life India AIF appoints Ashish Chugani as head for India alternative assets

Nippon Life India AIF Management Limited, a 100% subsidiary of Nippon Life India Asset Management Limited (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), on Thursday appointed Ashish Chugani as the Head of Alternative Assets for its AIF business, the company announced through an exchange filing. Currently the company offers products across three business lines namely Public Equity, Real Estate Credit & Tech/VC FoF. The Company has a commitment of over 5,600 crore as of 31st March 2023.

In this role, Ashish will lead strategic initiatives and business operations for the development and management of NAM India’s AIF business. He will report to Sundeep Sikka, ED & CEO NAM India, in this capacity and will take charge with effect from July 1, 2023.

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

Ashish has over 30 years of experience, working in companies like Tata Capital, Centrum, Citibank, Arthur Anderson, Cambridge Place Investments Management, Ankar Capital Management, and Antfactory to name a few which gave him experience of working across multiple investment asset

classes.

Commenting on the development, Mr. Sundeep Sikka, ED and CEO of Nippon Life India Asset Management Ltd. said, " 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. We would also like to thank Shahzad Madon with his contribution for his commitment and leadership in leading this business for more than a decade. We wish him best of luck in his future endeavours.”

Nippon Life India AIF Management Limited is a 100% subsidiary of Nippon Life India Asset Management Limited. The firm has both Category II and Category III AIF licences which are into real estate, credit, tech / venture capital, and listed equity space.