Subahoo Chordia has resigned from his position as CEO of asset manager EAAA India Alternatives, two sources familiar with the development told Infralogic.

Chordia has informed colleagues informally of his departure in the last couple of days, the sources said, adding they are unaware of his plans. A formal announcement has not been made, a third source said.

Chordia is an infrastructure investment veteran and was appointed as Co-CEO only about a year ago, prior to which he conceptualised, started and built the real assets funds business, serving as its president and head for almost a decade.

He led EAAA India together with Amit Agarwal, who continues to head the private credit business.

The departure of Chordia comes while EAAA India Alternatives is in the midst of preparations for an initial public offering to raise INR 15bn, after receiving the market regulator’s approval this April for the listing.

EAAA India Alternatives, the alternative assets management arm of Mumbai-based Edelweiss Group, oversees a USD 7.2bn portfolio across performing and special situations credit, infrastructure, commercial real estate, energy transition, and investment trusts.

The asset manager is in the midst of raising an energy transition fund, which proposes to invest in greenfield projects. It secured a USD USD 60m anchor commitment from EIB Global and a first close at USD 175m last October. It targets to raise between USD 300m and USD 500m.

The firm’s first infrastructure fund – Infrastructure Yield Plus I (IYP I) – which raised INR 33bn in 2020 (about USD 450m at the time) is fully deployed, while IYP II, which closed at USD 1.1bn last year, is in the midst of deployment.

EAAA India Alternatives did not respond to a request for comment.