SCPE names India MD Nainesh Jaisingh as co-global CEO
Standard Chartered Private Equity (SCPE) has named Nainesh Jaisingh, managing director in India, as co-global CEO. He is specifically charged with bolstering the outfit’s presence in emerging markets and West Asia.
Jaisingh has been a key leader in India for six years, and will now direct SCPE's $3 billion-plus business with Alastair Morrison, whose has been covering investments made in Asia and the West, The Times of India reported. The report notes that this is the first time an India country head has been given a top role at a global private equity fund of this scale.
As Indian investments account for approximately one-third of SCPE's portfolio, Jaisingh will continue to be based in Mumbai, a spokesperson confirmed to media. SCPE's recent investments include its 3% stake acquisition in the United Stock Exchange (USE); its 10% stake in supply chain manager Redington India; and its 5% stake in PepsiCo's top bottler in South Asia, Varun Beverages International.
SCPE India has also been on the exit trail in recent months. In June, SCPE targeted $200 million in Powerica Ltd.'s IPO. And last year, SCPE allegedly sought to partially exit Indian auto part maker Endurance Technologies via an IPO, and began the phased exit of auto-finance firm Mahindra & Mahindra Financial Services, for an estimated 2.2x return on its investment.
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