Green shoots of revival, months after the financial world were rocked by the Covid-19 pandemic for the emerging preferred source of alternative capital for Indian businesses the ‘private equity’. Executive search firms and private equity heads say, both for the internal strength as well as their investee companies’ private equity funds are back in-game and are now adding talent to their teams. In the past three months, there were leadership levels, and over 100 CXO moves inside private equity and its portfolio teams.
When the world has been lockdown funds such as ChyrsCapital, KKR, Bain Capital. Epiq Capital, ADIA, Creador, Lightspeed Ventures, Kedaara, Sequoia, Warburg Pincus, Apax Partners, Multiple Alternate Asset Management, among others, have been bolstering their team in the last three months.
Nagesh Wagh managing partner native says “hiring within the private equity portfolio has been most active within diagnostics, renewables, consumer and consumer tech sector”. More than 20 CXO mandates across private equity firms are currently run by Native. Business growth, transformational finance, and digital technology professionals are in high demand.
Key manpower is required to be added for future growth says private equity firms. Renuka Ramnath, founder, and MD of Multiples Alternate Asset Management said new-age companies that are working towards new digital business models are recruiting significantly. In the last two months, her fund has recruited few people. Private equity’s long term and versatility characteristics are particularly suitable in directing the present situation of uncertainty.
Key top-level hired by private equity according to Native data for their portfolio firms in the past three months include Jiapal Singal CFO – India& UAE at Id Fresh Food; Tapan Jindal, CFO – Baazi Games; Swayam Sen, chief people officer Avanse Financial; Rahul Tewari, CFO, Games24*7; Vithal Acharya, head HR, Ola Electric Mobility; Abhishek Mehrotra, leader HR- India ( Tiktok), Byte-Dance; Tejinder Singh, CBO, Paytm; Arjun Mohan, CEO India, Upgrad; Kumar Saurabh, business head – lifestyle, Udaan; Vasant Nangia, CEO, Chumbak, and Amit Mande, head, lending business, and CEO, Mswipe Capital among others.
Private equity investments were up 12% for the six months ending June, led by the blitzkrieg of investments in Jio Platforms. Vishal Mahadevia, managing director and India’s head, Warburg Pincus India said he has hired five new professionals in India team and continues to be bullish on the Indian market. In addition, he says, though most companies at the portfolio level, are going through the most common pain that the Covid19 has caused, some of them are strengthening their senior management teams. While some funds are adding their existing teams, Temasek KKR and some such, are building their separate teams for infrastructure investment and are in the market scouting for talent. Sanjay Nayar, chief executive, KKR India said they remain confident in India’s economic growth story with strong government policies and strong tailwinds and they will continue to onboard the right talent to support their investment thesis at all levels.
