360 ONE Asset Management, which is backed by private equity firm Bain Capital and was earlier known as IIFL Asset Management, has appointed Raghav Iyengar as its new chief executive officer.
Iyengar, who succeeds Manoj Shenoy, will also be a whole-time director at the asset management firm, it said in a statement Monday.
In his new role, he will be responsible for driving the company’s growth strategy, expanding the product pipeline, and strengthening the firm’s market share.
Iyengar has over three decades of experience in the financial services sector, having held leadership positions at Axis Asset Management, ICICI Prudential Asset Management, and Tata Asset Management.
360 ONE Asset Management offers alternative investment funds (AIFs), portfolio management services (PMS), and mutual funds to investors. Its funds invest in public and private equities, fixed income securities, and real estate.
According to its annual report, the group’s asset management business had Rs 72,248 crore in assets under management (AUM) as of March 31, 2024. Of this, Rs 38,313 crore was the AIF AUM, Rs 24,355 crore in PMS and separately managed accounts assets, and Rs 9,580 crore in mutual fund assets.
The private equity business of 360 ONE Asset had an AUM of Rs 24,212 crore as on March 31, 2024.