DE Shaw downsizes India private equity business

According to The Business Standard, the firm's India managing director, Anil Chawla, has resigned and will move to Hong Kong to work as a consultant with the company.

"Anil is no longer an employee of the DE Shaw group, but he will continue as a consultant." confirmed a DE Shaw spokesman."He will remain a director of our private equity subsidiary that invests in Indian companies."

In addition, the Gurgaon-headquartered DE Shaw India has reduced the number of its investment professionals from 15 to just two, who will now oversee the exit of its remaining portfolio.

"We are still invested in private equity in India," added the US-based DE Shaw spokesman."While our business is smaller than earlier and we have fewer people, that is a reflection of the changed investment climate, not our long-term interest in investing in India."

DE Shaw has made investments of around $2 billion in the country. However, in the past few years, it has exited many of its major holdings and now has a portfolio exposure of $400-500 million. Key sectors it has invested in have included education, renewable energy, real estate, publication, animation, broadcasting, out-sourcing and security services.

 

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• Topics
• South Asia
• People
• D. E. Shaw
• India
• Exit