Suits & sayings: ET's weekly roundup of the wackiest whispers & murmurs in corporate corridors
A spanking new toy for PE boss
What would you do if you made a killing on the markets? How about splurging about ₹2 crore on a fancy set of wheels? The fund manager of an American private equity fund has done just that, the latest addition to a long list of fund managers of local as well as global PE funds who have tasted stupendous returns in the past few years through public offers or secondary sales. Many have bought expensive cars while some have snapped up flats in locations such as Worli and Bandra, and others have invested in holiday homes.
Pad On The BlockThe chief executive of a private equity fund backed non-banking finance company, who also has skin in the game, has put his pad at Worli on the block for an asking price of about ₹80 crore. His company is in the midst of a merger with a bank and the young chief executive is poised to head the merged entity from the bank’s headquarters. We hear he is eyeing a posh property which houses India’s leading bankers. If he succeeds in clinching a deal, he’ll be able to just walk into his bank.
Rainmaker On The Move
Seasoned investment bankers often move to head the M&A vertical of their clients after a long stint with their bank. Now we hear Rahul Saikia, low-profile veteran investment banker who headed PwC’s M&A business, is moving to FDC, owner of the Electral brand. Saikia, who used to represent Assam for tennis matches, has known his new employer for a long time as the latter represented Maharashtra in the same game. Friendship, evidently, sometimes begins at the tennis court.
What would you do if you made a killing on the markets? How about splurging about ₹2 crore on a fancy set of wheels? The fund manager of an American private equity fund has done just that, the latest addition to a long list of fund managers of local as well as global PE funds who have tasted stupendous returns in the past few years through public offers or secondary sales. Many have bought expensive cars while some have snapped up flats in locations such as Worli and Bandra, and others have invested in holiday homes.
Pad On The BlockThe chief executive of a private equity fund backed non-banking finance company, who also has skin in the game, has put his pad at Worli on the block for an asking price of about ₹80 crore. His company is in the midst of a merger with a bank and the young chief executive is poised to head the merged entity from the bank’s headquarters. We hear he is eyeing a posh property which houses India’s leading bankers. If he succeeds in clinching a deal, he’ll be able to just walk into his bank.
Rainmaker On The Move
Seasoned investment bankers often move to head the M&A vertical of their clients after a long stint with their bank. Now we hear Rahul Saikia, low-profile veteran investment banker who headed PwC’s M&A business, is moving to FDC, owner of the Electral brand. Saikia, who used to represent Assam for tennis matches, has known his new employer for a long time as the latter represented Maharashtra in the same game. Friendship, evidently, sometimes begins at the tennis court.