Permira recruits India head from Warburg Pincus
Permira has established a presence in India and recruited Siddharth Narayan, who previously spent a decade at Warburg Pincus, as country head.
Permira has deployed more than EUR 4.4bn (USD 4.3bn) across 12 investments in Asia to date and opened its first office in the region nearly 20 years ago. However, the firm has yet to complete a deal in India.
It invests out of a global fund – the seventh flagship vehicle closed on EUR 11bn in 2019 – focusing on technology, consumer, healthcare, and services.
Narayan joined Warburg Pincus from Lightspeed Venture Partners in 2012 as a principal based in Mumbai. Between 2015 and 2017, he was part of the growth technology group out of New York. Throughout his time with the firm, Narayan focused on investments in digital and fast-growing businesses in consumer internet, software, financial technology, and services.
“We are excited to grow our presence in the Indian market. We believe it presents an attractive source of investment opportunities well-aligned to our investment strategy across consumer, services, technology and select sub-sectors in healthcare,” said Daniel Tan, head of Asia at Permira, in a statement.
Singapore-based Tan became regional head, with responsibility for day-to-day operations, earlier this year. He took over from Alex Emery, who was named Asia chairman.
Permira has EUR 60bn under management globally across buyout, growth equity, and credit strategies. It employs over 450 people in 16 offices. Recent Asia activity includes the sale of corporate services provider Tricor Group to Baring Private Equity Asia for USD 2.7bn and participation in the USD 685m acquisition of Korean food delivery business Yogiyo.
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