Mounting interest from global private equity firms to set up presence in India brings more opportunities for local PE veterans. The latest is Alok Gupta, former CEO at Axis Private Equity Ltd, joining US-based Gerken Capital Associates as senior advisor and managing director (India) to head its EMF-VII, an emerging markets private equity fund of funds.
Gupta said: “GCA is a remarkable emerging markets investor and I would like to bring my experience to help realise GCA and EMF’s goals.”
He joined Axis PE in 2006 and quit in early 2011. Prior to Axis PE, he was a director of Global Steel, holding company of the Ispat Group of the Mittal family. Earlier, he was a partner and managing director at Asia Equity Infrastructure Fund, a $355-million fund set up by the Asian Development Bank, AMP, Axa, CDP and Nippon Life. Alok was also a director of Hughes Telecom India.
Earlier, Bala Deshpande, who has just left ICICI Ventures as senior director, had joined US-based venture capital fund New Enterprise Associates as India head.
Founded in 1989, GCA manages and advises assets worth $1 billion for both institutional and high net worth clients.