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UK private equity fund Actis is getting a new India chief. An Actis old timer, J M Trivedi (pictured, left), will succeed Donald Peck (right), who will now assume new responsibilities at the fund globally out of the UK headquarters.

Peck will continue to be associated with India as the chairman of Actis Advisers Pvt Ltd. He will also remain on the boards of Indian investee companies, as well as the Actis investment committees, a release said. Actis has $3.3 billion under management globally.

Peck set up the operations of the UK-based CDC Capital Partners (it became Actis in 2004 after a self-funded management buyout) in India in 1995, and has been spearheading the fund ever since. Peck is credited for several high-profile investments in India such as that of Punjab Tractors, BPL Mobile and so on. Actis also pioneered first management buyout (Nitrex, case study here) in India's private equity history. Actis has also been tough with its investee companies. The fund had a prolonged legal battle with Rajeev Chandrasekhar of BPL Mobile, and it had also ousted Yash Mahajan from the management of Punjab Tractors through a boardroom battle. So Peck has been a pretty hands on investor.

Trivedi joined Actis in 1997, and established Actis' Mumbai office. He led many deals for Actis such as UTI Bank, Glenmark Pharmaceuticals, Jyothy Laboratories and more recently Paras Pharmaceuticals and Sterling Hospitals. Prior to Actis, Trivedi was a VP at early stage fund GVFL Ltd. He is an alumnus of IIT Bombay.