Rajeev Kalra was named partner at The Rohatyn Group and will lead the firm’s India-based team with a focus on sourcing, evaluating, executing and monitoring investments in the region.
The $6 billion firm, which specializes in emerging markets and real assets, welcomed Kalra’s roughly three decades of experience in the region. He joined The Rohatyn Group (TRG) following the acquisition of Citi Venture Capital International in 2013. He started his private equity career in 1996 at HSBC Private Equity.
TRG’s CEO Nicolas Rohatyn said that Kalra’s “unrelenting pursuit of realizations” of some of the firm’s most complex investments has established the team as a force in India and a global leader in GP replacements. Looking ahead, he believes there is much opportunity in secondaries, renewables and infrastructure.
“I am thrilled by the prospect of building a larger business for TRG in India, which is poised to become the third largest economy in the world over the next decade. The opportunity set is vast and attractive in areas spanning energy, financial services or consumer goods and services,” said Mr. Kalra. “India’s renewables sector is particularly interesting because of both demand for power and the conversion of existing energy generation sources.”
Kalra is a nominee director on the board of several portfolio companies in India, including Leap Green Energy (a leading renewable power generating business), Nandi Economic Corridor Enterprises (an integrated toll road and real estate development business), DB Power (a thermal power generating business) and Soma Tollways (a toll road company). Kalra has served as a nominee director on the boards of several other portfolio companies that have been successfully exited by TRG.
“In addition to deployment of flexible primary capital, TRG’s India team continues to pursue GP replacements and secondary opportunities in India, as successfully demonstrated in the last few years by the integration of and exits from two infrastructure focused portfolios acquired by TRG in India,” said TRG Partner and Head of Private Markets Miguel Gutierrez. “Alongside our pending acquisition of the business of Ethos Private Equity, Rajeev’s promotion underscores the firm’s commitment to emerging markets and aim to deliver a larger array of investment solutions.”
In November, TRG entered into a definitive agreement to acquire the business of Ethos Private Equity, an alternative asset management firm in Africa; the deal is expected to increase the firm’s AUM to approximately $8 billion.