Shaheryar Chishty
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Shaheryar Chishty | |
|---|---|
| Born | Karachi, Pakistan |
| Nationality | Pakistani |
| Occupation | Business executive |
| Known for |
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Shaheryar Chishty is a Pakistani former international Banker and businessman who holds a notable position in Pakistan's energy sector. In addition to being the owner of Daewoo Express Pakistan, he serves as the CEO of Asia Pak Investments.[1]
Career
Chishty initiated his professional journey as an associate at KASB Securities. Subsequently, in 1997, he relocated to Hong Kong to pursue a career in investment banking with Salomon Smith Barney, a part of Citigroup. Throughout a significant portion of his career, he dedicated his expertise at Citi, holding various senior roles, notably as Head of Asia Industrials Investment Banking and Head of North Asia Mergers & Acquisitions.[1]
Between 2009 and 2011, Chishty extended his experience at Nomura International in Hong Kong, first assuming the position of Asia Head of Industrials Investment Banking, and later also serving as Global Head of Industrials Investment Banking.[2] Over his 18-year tenure in investment banking, Shaheryar emerged as one of Asia's leading deal makers, advising on completed mergers & acquisitions transactions amounting to over $60 billion and facilitating the raising of over $18 billion in debt and equity capital.[1]
K-Electric
In 2023, Chishty successfully acquired K-Electric, the sole vertically integrated utility company in Pakistan. This acquisition, transacted in the Cayman Islands, saw the transition of ownership from the well-known Abraaj Group to AsiaPak Investments, orchestrated with minimal public attention. Chishty had been closely monitoring K-Electric for over a decade.[1][3]
Controversies
A legal dispute has emerged between Ernst & Young (EY) and Infrastructure Growth and Capital Fund (IGCF) SPV 21, a Cayman Islands entity controlled by Shaheryar Chishty. The disagreement centers around the recent removal of a director from the board of KES Power Ltd, the parent company of K-Electric (KE).[4][5][6]
References
- ^ a b c d Niazi, Abdullah (July 2, 2023). "Who is Shaheryar Chishty and what does he want with K-Electric?". Profit by Pakistan Today.
- ^ "NOMURA | Nomura Expands Non-Japan Asia Investment Banking Team with Six Senior Appointments". www.nomuraholdings.com.
- ^ "Shehryar Chishti buying stake in KE at Cayman court but Pakistan govt unaware - Daily Times Shehryar Chishti buying stake in KE at Cayman court but Pakistan govt unaware". October 12, 2022.
- ^ "Another twist in battle for K-Electric ownership". www.geo.tv.
- ^ "Another twist in battle for K-Electric ownership". www.thenews.com.pk.
- ^ Ghumman, Mushtaq (July 13, 2023). "SPV21 files plea in Cayman Islands' court for KESP winding up". Brecorder.