Two employees of the Caisse de dépôt left the company due to the difficulties of an Indian company in which the institution had invested heavily.
• Also read: A $630 million investment by the Caisse is now worth just… $11 million
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Cyril Cabanes, vice president of infrastructure – Asia Pacific at the fund’s Singapore office, and Deepak Malhotra, director of infrastructure investments in India at the fund’s Delhi office, “recently departed,” said a spokeswoman, Kate Monfette. On Wednesday.
She declined to say whether the departure was voluntary or not, citing “legal obligations to protect personal data.”
Cyril Cabane’s photo from the CDPQ website
The two executives have been with the Caisse since 2016 and 2018, respectively, and represented the institution on the board of Azure Power Global.
Deepak Malhotra photo from LinkedIn
Governance issues
La Caisse holds a majority stake in this Indian renewable energy company. However, governance issues led to a significant stock market decline for Azure.
The institute’s $630 million investment in the company was worth just $11.3 million in July. Its value has since increased and is currently around fifty million dollars.
Two other Caisse executives working abroad, Jaime García Nieto and Philippe Wind, will now represent the institution on the Azure board.
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