Parthenon to make Mumbai its hub in Asia

The advisor behind the big-ticket takeover of Reuters by Thomson Corporation, strategy and M&A consultancy firm Parthenon Group is foraying into Asian markets by setting up its headquarters in Mumbai.

The group is looking at offering services to companies in India, the Middle East, Singapore and China from its Indian office, mainly on strategies, mergers & acquisitions (M&A) and equity funding among others.

"The companies in the Asian region require consultancy services as most of them are looking at improving capabilities, either through enhancing strategies or through acquisitions. These companies need outside advice, and we would look at providing them from our India office," Parthenon Group Chairman and Managing Partner William F Achtmeyer told Business Standard in an interview today.

The group is bringing in its global expertise and human capital, and of the total 10 employees we intend to recruit, five would be internationally acclaimed personnel, he said.

However on setting up a private equity fund, Achtmeyer said: "Private equity market is growing and 10 per cent of our total business is from PE market. On setting up a fund for the country, we are don't have any short-term plans, but we will be venturing into this sector in the medium-term."

Parthenon Group would focus on a range of verticals including industrials, consumer, healthcare, and education.