Akhil Awasthi, a partner at Baring Private Equity Partners India, is moving on to head Tata Capital’s Private Equity unit.
Baring has announced the appointment of Amit Chander, who will replace Awasthi, as the head of healthcare and education practise. The departure of Awasthi follows another partner, N. “Subbu” Subramaniam, leaving the firm in August this year. Both Awasthi and Subramaniam had been with the firm since its beginning. Baring India, which manages $750 million across three funds, is headed by Rahul Bhasin.
Tata Capital is planning to raise a fund of around $350-400 million. Shailendra Bhandari, who was heading the initiative since mid-2008, resigned in July to take over as head of ING Vysya Bank. Bhandari was earlier the head of Centurion Bank of Punjab, which got merged with
HDFC Bank in 2007.
Chander is a director on the board of Baring portfolio firm Sphaera Pharma. He has previously worked with Accenture India and credit rating agency CRISIL.