True North's Nirula joins Carlyle Asia PE team

Nirula has spent more than 18 years at True North, which rebranded from India Value Fund Advisors (IVFA) and is in the process of raising its sixth fund. Before founding IVFA in 1999 he worked in the financial consulting and corporate finance practice at Arthur Andersen.

“Vikram’s extensive on-the-ground experience in India’s PE industry and strong market insights well place him to bolster Carlyle’s continued growth and success in India,” said Greg Zeluck, a managing director and co-head of Carlyle’s Asia buyout team, in a statement. “With Vikram on board, Carlyle will deepen its connections to local Indian companies, helping us to support their ability to better excel in one of Asia’s fastest growing economies.”

Carlyle is currently accelerating its investment pace in India. The firm has deployed about $1.9 billion in the country, including $750 million in the last three years. Last year Carlyle merged its growth and buyout teams for India in order to improve deal origination and better leverage its industry expertise.

Nirula’s appointment follows the departure of Devinjit Singh, a managing partner who left Carlyle earlier this year to found Xponentia Fund Partners alongside former executives from CX Partners and Citigroup Venture Capital International (CVCI).

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• Topics
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