LICHFL Asset Management

Institutional Capital. Disciplined Investing. India Growth Opportunities.

Established in 2008 and part of the LIC Group
LICHFL Housing & Infrastructure Fund is registered with SEBI as a Category I Alternative Investment Fund (Infrastructure Fund)
LICHFL Urban Development Fund final close of INR 5.29 billion in March 2013

AIF

Overview

About LICHFL Asset Management

LICHFL Asset Management Company is the Private Equity arm of the LIC Group, the largest investor in the Indian financial market. The firm provides a reliable platform for investors to participate in India's growth story through disciplined investments in housing and infrastructure sectors. LICHFL AMC was established in 2008 to address the growing need for institutional capital in India's housing, infrastructure, and emerging real asset sectors. The firm combines deep sector expertise, strong governance, and a disciplined investment approach to identify and nurture opportunities in housing and infrastructure.

Investment philosophy

LICHFL AMC invests through risk-aware, structured strategies across India's priority growth sectors, with a focus on downside protection and sustainable returns. The firm's approach combines institutional discipline with market insight to identify opportunities that deliver consistent, risk-adjusted returns. Capital Protection First: structured financing, security-backed investments and conservative underwriting practices. Selective Investment Approach: strong project fundamentals, experienced developer partners, clear visibility on cash flows, and positive net worth and self-liquidating exits. Risk management is integral to the firm's investment strategy, with multi-layered due diligence, continuous monitoring of project performance and structured exit mechanisms.

AIF funds2

Lichfl Fund

Registered 2025

Cat I16 in team

Lichfl Opportunities Trust

Registered 2021

Cat II16 in team

Team21

Devojit Sanyal

Director & Chief Executive Officer

Shri Devojit Sanyal is Director and CEO of LICHFL Asset Management Company Limited. He leads the firm's private equity and real estate investment management activities across all fund vehicles. He is a graduate of Birla Institute of Technology and is based in Mumbai.

Ujwal Parekh

Chief Investment Officer

Ujwal Parekh joined LICHFL AMC as Chief Investment Officer in September 2025, responsible for driving investment strategy, fundraising, AUM growth, and steering the firm toward an eventual AMC listing. He previously spent a decade at Nippon India Mutual Fund / Nippon Life India AIF as National Lead – Real Estate Investments, specialising in real estate private equity, structured credit, project finance, and construction finance. Earlier in his career he was a Senior Consultant at Ernst & Young Global Consulting Services. He is a Chartered Accountant and earlier worked at Milestone Capital and Landmark Capital Advisors.

Kanchan Vartak

Chief Financial Officer

Ashutosh Hegde

Senior Executive Vice President & Head – Investments; Principal Officer (GIFT City Branch)

Ashutosh Hegde is Senior Executive Vice President & Head – Investments at LICHFL AMC and serves as Principal Officer of the GIFT City (IFSC) Branch. A practitioner of sustainable investments with 22 years of investment experience and 11 years of operational background, he was instrumental in founding the LIC Group's private equity vertical and pioneered several real estate investment trends in India. He specialises in private equity, structured and mortgage finance for development and yield assets, and has raised over INR 13 billion across two real estate and infrastructure funds.

Sandhya Nambidi

Vice President Legal & Investments

Investments in securities markets are subject to market risks. Read all the related documents carefully before investing. Past performance is not indicative of future returns.

LICHFL Asset Management

Overview

About LICHFL Asset Management

Investment philosophy

AIF funds2

Team21

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