Carlyle poaches India head from Blackstone
The Carlyle Group has recruited Amit Jain, formerly of The Blackstone Group, as a managing director in Mumbai and co-head of its India investment advisory team.
He will lead India investment activities alongside Neeraj Bharadwaj, the incumbent country head. Concurrently, Bharadwaj has taken on an additional role, becoming co-head of Asia healthcare, a post he shares with Ling Yang, the current head of China healthcare.
Jain spent 10 years at Blackstone, most recently serving as a senior managing director in the firm’s PE division. He has worked on India deals across the consumer, healthcare, automotive, telecom, and packaging industries. Board appointments include Essel Propack, Aakash Educational Services, Comstar Automotive Technologies, Fino Payments Bank, and CMS Infosystems.
Jain began his career and Hindustan Unilever and worked for McKinsey & Company prior to joining Blackstone.
Carlyle has deployed more than $5.5 billion across 44 investments in India since 2005. Recent investment targets include PNB Housing Finance, healthcare technology provider Indegene, data center business Nxtra Data, the pharmaceuticals division of Piramal Enterprises, and animal healthcare specialist SeQuent Scientific.
Meanwhile, the private equity firm continues to trim its positions in SBI Life and SBI Cards & Payments Services, having backed both companies pre-IPO. A third portfolio company, e-commerce logistics provider Delhivery, recently filed for a domestic offering.
“We are thrilled to welcome Amit to the firm for this important role in India, a country which we believe offers some of the most attractive investment opportunities globally,” Greg Zeluck, a managing director and co-head of Carlyle Asia, said in a statement.
“His appointment underscores our commitment to further build out our local team at a time of sustained economic growth and the emergence of exciting new technologies and derivative business opportunities.”
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