The Parthenon Group, a boutique advisory firm, has appointed Ashwin Assomull as senior principal to lead the firm’s growth initiatives in India. Parthenon runs its Asia operations from its Mumbai office.
Apart from Assomull, the firm had made several other recruitments at different levels recently. It currently has about 150 experts across offices in Mumbai, Boston, London and San Francisco, a company statement said.
As senior principal at Parthenon, Assomull will work for the growth and expansion of the firm’s business in India by leveraging his earlier experience and domain expertise. He has prior experience in consulting activities in sectors including private equity, IT & business services, hospitality and retail among others.
Assomull has worked as director at Deloitte and was responsible for the firm’s M&A strategy in London and Mumbai. Prior to that, he was an internal strategy consultant at Kaycee Management Group in Spain, and a consultant at PricewaterhouseCoopers in London.
Karan Khemka, partner and head of Parthenon’s Mumbai office, said, in the statement, “this strategic hire is a tactical step towards Parthenon Group’s rapid but controlled growth trajectory in India. His appointment will further strengthen our team and help in expanding our business in the region.”
Parthenon Group also runs a private equity fund called Parthenon Capital Partners and currently has over $1.5 billion of capital under management. According to an earlier VCCircle report, the fund has invested $88 million of seed capital to Askil India Integrated Infrastructure, an entity promoted by Mumbai-based infrastructure investment outfit Skil Infrastructure and investment banking shop Askar Capital in Iceland, in 2008.