Chapel Hill Denham has announced that Mr. Anshul Rai will leave his role as the Chief Executive Officer of the Chapel Hill Denham Nigeria Infrastructure Debt Fund after serving in that capacity for almost a decade, effective 30 June 2024. He will continue to serve on the Investment Committee of the NIDF. Chapel Hill also announced the appointment of Mr. Saurabh Srivastava as the Chief Executive Officer Designate, Nigeria Infrastructure Debt Fund (NIDF).
In a statement available on the website of the Nigerian Exchange, the Company stated thus:
“Anshul co-founded NIDF almost a decade ago and was appointed pioneer Chief Executive Officer in December 2015. Under his leadership, NIDF became the first infrastructure investment trust to be listed on the Nigerian Exchange on 5 October 2023, following its listing on FMDQ on 17 July 2017. Anshul has also overseen nine (9) series of successful capital raises and delivered a diversified loan portfolio across sectors accretive to Nigeria’s development.
Until his appointment, Saurabh was a Director in Infrastructure and Climate at Chapel Hill Denham, where he worked closely with Anshul for seven years. Saurabh is a seasoned professional with over twenty-five years of extensive experience in infrastructure investing, development and project financing across Africa and the Middle East. Prior to joining Chapel Hill Denham, Saurabh was the Vice President of Investments & Acquisitions (African Power Initiative) at EMCO Power Limited. He transitioned into this role from GE Capital, where he was the Vice President: Sales, Airport Infrastructure Group. Over the course of his career, Saurabh has led and managed various infrastructure projects working with international developers, corporates, financial advisors and government agencies. Saurabh holds a Bachelors’ degree in Metallurgy from REC Durgapur in India and a Masters’ degree in Finance and Control from the University of Delhi.
We believe that long-term naira-denominated project finance debt is an essential ingredient to Nigeria’s development and NIDF has seen greater demand for its services with every passing year. We are all proud of NIDF’s performance since inception, having delivered c.190% total return to investors and we are confident that in his new role as Chief Executive Officer Designate of NIDF, Saurabh will be invaluable to the growth of NIDF and will sustain its track record of consistent value delivery to investors. We thank Anshul immensely for his years of dedicated service and the impact that he has had on the Fund and wish him success in his future endeavours”.