LPs appear to have enacted a key man close on Indian investment firm ChrysCapital’s sixth fund following the departure of its managing director Gulpreet Kohli.
Fund VI, which was closed on $510m in May 2012, has now been suspended, according to Private Equity International.
Last week it was reported that Kohli’s departure could trigger a key man close on the fund.
At that time it was unclear whether LPs would enforce it as a large proportion of the fund had been deployed and Kohli was not at the forefront of deal making.
Kohli joined ChrysCapital’s advisors division in May 2000 and was responsible for leading client fundraising functions in addition to managing the consumer sector.
Earlier this year the firm led a $53m Series B round for digital integrator LiquidHub.
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