CDC Group, the UK government's development finance arm, has announced the resignation of its Asia investments head.

Anubha Shrivastava is leaving her role as managing director for Asia investments after five years to "pursue other opportunities," the firm said in a statement. It did not mention where she will be moving, but noted that her replacement is being sought.

Shrivastava joined the company in 2007 and prior to her latest role served as head of the South and Southeast Asia and China operations. She had also previously worked with General Motors Asset Management's private equity unit in New York and Performance Equity Management.

Her departure was announced alongside the appointment of Hiti Singh and promotion of Clarisa De Franco as portfolio directors for the Asia funds team. Singh was previously with the Africa team, while De Franco had been working for the Asia investment team.

CDC Group is one of the largest investors in India-focused private equity funds and to-date has invested some $1 billion in various firms. India is the single largest market in terms of investments for the company, which has around $4 billion in assets. According to its latest annual report, India accounted for 21 per cent of its assets, followed by China with 18 per cent.