Private equity major Blackstone has appointed Amit Dixit and Mathew Cyriac as co-heads of its operations in India.
Dixit and Cyriac are replacing managing director Akhil Gupta, who will stay with Blackstone India as a non-executive chairman.
The New York-headquartered firm currently has 19-strong private equity team in India. Blackstone has invested $1.7bn across 20 private equity deals in India over the last eight years.
Blackstone president Tony James said, “Blackstone is a force in Indian private equity thanks in large part to Akhil’s leadership. We appreciate his tremendous contribution to the firm as the head of our business in India, and we look forward to his continued involvement as Chairman of Blackstone India.
“Akhil has built a terrific team and we are confident that Amit and Mathew will continue driving our performance in Indian private equity.”
Blackstone’s recent deals in the country include the acquisition of a 98 per cent stake in car parts maker Agile Electric Works for $110m.
In August this year it was reported that Blackstone and Actis were among private equity firms interested in investing up to $125m in Indian snack maker Balaji Wafers.
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