International private equity firm 3i has announced the appointment of Anil Ahuja to the role of Head of Asia.

Based in Singapore, Ahuja will lead 3i's investment teams to deliver 3i's strategic objectives across Asia, working with 3i's local business heads in China, Singapore and India.

Ahuja will continue to report to Chris Rowlands, chairman of 3i Asia and a member of 3i's management committee.

3i's investment portfolio in Asia has grown almost tenfold since 2004.

Additionally, Rowlands said the appointment underlined the increasing importance of Asia in 3i's global strategy going forward.

He added: "Anil's appointment is consistent with our approach of developing local Asian talent to lead this growing business."

3i's market capitalization is €4bn, and it remains the only private equity FTSE 100 Company.