Anshul Rai, Fund CEO
The Fund’s Investment Team will be led by Anshul Rai, who is also a member of the Investment Committee.
Anshul has over nineteen years’ experience in emerging markets infrastructure, with focus on principal investments, project finance and financial advisory. He has financed and invested in numerous projects across power, energy, utilities and transport sectors, with investment value of nearly USD50 billion.
Anshul started his career with IFCI Limited, India, where he executed a number of large debt financing transactions for infrastructure projects. He then worked at KPMG’s infrastructure advisory group, focusing on financial advisory and financing transactions in power, transport and utilities sectors. Subsequently, Anshul joined Veolia Water’s South Asia unit working on development and financing of PPP projects in water and utilities. In 2004, he moved to the Middle East joining Bank Muscat’s infrastructure group and managed a number of senior/subordinated debt transactions as well as capital markets deals for infrastructure projects.
Between 2006 and 2011, Anshul was the founding team member and managing director of the MENA Infrastructure Fund, where he originated and executed a large number of investments and managed the fund’s portfolio of USD200 million. He represented the fund on investee companies’ boards and provided strategic direction on their business plans and expansion proposals.
Some of the transactions that Anshul has been closely associated with include Qurrayah power project in Saudi Arabia (USD2.8 billion), Morupule power project in Botswana (USD1.5 billion), Barka-2 power & water project in Oman (USD700 million), Delhi power sector privatization project (USD500 million), coal and gas fired IPPs in India aggregating 3,000MW (USD3 billion), Alexandria container terminal project in Egypt (USD300 million), Salalah port expansion project in Oman (USD450 million), Dhamra port financing in India (USD250 million), Hazira port financing in India (USD300 million), Madinah airport development in Saudi Arabia (USD1.5 billion), Delhi/Mumbai airport privatization project in India (USD1 billion), Delhi-Noida toll bridge in India (USD100 million), Jamshedpur water project in India (USD150 million), Disi-Amman water transmission project in Jordan (USD700 million) and multiple water, wastewater and municipal waste management supply projects across Africa, Middle East and Asia (over USD500 million).
Throughout his career, Anshul has led and managed cross-disciplinary teams on transaction structuring, due diligence, financial modelling, negotiations and documentation. In infrastructure debt, he has had extensive involvement both senior and subordinated debt transactions in different sectors, across a number of jurisdictions.