VCCircle

Exclusive: It's known that global buyout fund Kohlberg Kravis Roberts & Co (KKR) is considering setting up an India office, but what is not known is who is heading it. Industry sources told VC Circle that Sanjay Nayar, Citigroup's India boss, is being considered for the job. This information could not be verified from the bank nor Nayar, however, highly placed sources said that Nayar could be headed to KKR.
Till now, the recently ousted Citigroup Inc CEO Chuck Prince was said to be holding Nayar back. Now that Prince has been removed from the job, it's likely that can make Nayar's decision faster.
Last month, reports suggested that KKR had sounded of a few law firms in India for setting up an office. Once KKR comes, that would complete the roster of PE biggies in India - which include TPG, Blackstone and Carlyle, among other large funds.
Since it was founded in 1976, KKR has done some 150 transactions with an aggregate enterprise value of over $318 billion. As of June 30, 2007, KKR’s equity investments were valued at over $78 billion on over $31 billion of invested capital, a multiple of 2.5 times, the website claims.
KKR has done only one deal in India, though. It bought out Flextronics Software, the software business of Flextronics International, for $900 million last year. It was the first leveraged buyout deal in India. KKR interestingly did this deal out of its international offices. The firm has six offices worldwide - New York, Menlo Park, Paris, London, Hong Kong and Tokyo.