MD of Carlyle's buyout team Ranjeev Gupta exits firm

Carlyle has not indicated Gupta's next move. According to a company spokeswoman, Gupta left to "pursue other interests," and his departure leaves co-leader of the buyout team, Devinjit Singh, as the unit's sole MD. Carlyle currently has 10 investment professionals in its buyout and growth teams, the latter headed by Shankar Narayanan.

Gupta joined Carlyle India in June 2005, when the firm launched its buyout unit in the Subcontinent. He joined from DSP Merrill Lynch, where he was Managing Director and Head of Investment Banking, and was charged with leading investments for Carlyle, based out of Mumbai. At Carlyle, his biggest achievements included facilitating Carlyle's minority stake in the Housing Development Finance Corporation Limited (HDFC), the spokeswoman added. That 2007 deal saw Carlyle buy a 5.6% stake for $650 million, a transaction which is still considered among the largest to have taken place in India.

In his previous role at DSP Merrill Lynch, Gupta was credited with leading some of the firm's largest M&A deals in India, including the acquisition of ACC by Holcim and Hughes Telecom by Tata Teleservices Ltd. He previously held the position of President and CEO of compound export firm Cosmo Ferrites Limited.

 

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