Mumbai: US-based global alternative-asset manager Carlyle Group has appointed Vikram Nirula as a managing director in its Asia private equity team, it said in a statement. Nirula, who had co-founded True North, quit the Indian private equity firm in January after an 18-year stint.
“I am delighted to join Carlyle Asia at an exciting time for the whole region and, in particular, for India. Countrywide economic reforms, a burgeoning middle class and a fast growing private sector are driving India’s economy forward, prompting the development of numerous companies and presenting interesting growth and buyout opportunities,” said Nirula.
“Vikram’s extensive on-the-ground experience in India’s PE industry and strong market insights will place him to bolster Carlyle’s continued growth and success in India. With Vikram on board, Carlyle will deepen its connections to local Indian companies, helping us to support their ability to better excel in one of Asia’s fastest growing economies,” said Greg Zeluck, managing director and co-head of Carlyle Asia’s buyout team.
Carlyle has invested about $1.9 billion of equity in India and has been increasing its pace of investment in recent years across a range of sectors, including financial services, healthcare, pharmaceuticals and consumer goods.
Nirula will advise on Carlyle’s investment activities in India.
At True North, formerly India Value Fund Advisors, he worked on various investments across diverse industries, including consumer companies, retail firms, financial services and industrials.
Earlier, he had a stint in consultancy firm Arthur Andersen for five years as part of its financial consulting and corporate finance practice.
He had graduated with a bachelor’s degree in engineering (computer science) from Birla Institute of Technology, and a post-graduate diploma in management from the Indian Institute of Management in Bangalore.