Financial services firm Avendus Capital has appointed executive director Ritesh Chandra to lead its new fund, which is expected to be launched after the company receives regulatory approval, a company statement said on Thursday.
The company did not disclose details of the fund.
“It has been an enriching journey working with the investment banking team at Avendus and I am excited to be creating a new business opportunity at the firm,” Chandra, who has been with Avendus for nearly 10 years, said.
He was earlier part of Avendus’ investment banking team where he led the consumer, financial and business services (CFB) group.
The group will now be co-headed by Abha Agarwal, an Avendus veteran who has led multiple large and complex transactions, along with Anshul Agarwal, an investment banking professional with over 15 years of experience. He recently joined Avendus after a 13-year stint at financial advisory firm Rothschild, his LinkedIn profile shows.
“Ritesh is a proven leader in our company, and we aim to achieve higher success for the fund under his expertise,” Ranu Vohra, co-founder and managing director of Avendus Capital, said.
The KKR-backed company offers financial services in investment banking, wealth management, structured credit solutions and alternative asset management. Avendus Capital Inc. in New York and Avendus Capital (UK) Pvt. Ltd in London are wholly owned subsidiaries offering M&A and private equity advisory services.
Recent appointments at Avendus include Puneet Renjhen, a former Standard Chartered executive, who last month was hired as executive director of investment banking.
In February, the firm appointed Alok Vajpeyi to lead its alternative strategies business.
In January, Avendus Wealth Management, a subsidiary of Avendus Capital, hired Sudeepto Deb as executive director and head of equities.