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Carlyle India executive quits to raise mid-market fund - report

  • Andrew Woodman
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Mahesh Parasuraman, managing director with the Carlyle Group in India, is said to be leaving the firm to launch a fund with Sunil Vasudevan, a former partner with India Value Fund Advisors (IVFA).

According to The Business Standard, the new outfit - called Amicus Capital - will launch a $150-200 million growth capital vehicle targeting mid-market opportunities. It will focus sectors such as healthcare, technology and business services, media, financial services and consumer, with an investment range of $8-20 million.

Parasuraman joined Carlyle in 2004 and is understood to have played a lead role in investments such as Repco Home Finance, Tirumala Milk Products - both of which have been exited - Newgen Knowledge Works, LearningMate and Elitecore Technologies. Vasudevan, who left IVFA last year, was involved with deal suchs as DM Healthcare, Trinethra and Biocon.

India spin-outs appear to be gaining traction once again after several quiet years. Last autumn, Heramb Hajarnavis, director and leader of KKR's private equity business in India, left the firm to set up his own outfit. Known as Sealink Capital, it is believed to be targeting a mid-market fund of around $250 million.

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