The chief executive officer (CEO) of Avendus Private Equity, Manoj Thakur, has resigned from his position at the firm. Thakur was part of the founding team which set up private equity business for Avendus.
The reason for his exit or his next move could not be immediately ascertained.
Thakur has been with Avendus for over six years prior to which he was the head of M&A at Hutchison Whampoa (A.S.Watson) and managing director investments in the Asia Pacific region for a Canadian pension fund.
“It has been a professionally satisfying journey to help grow Avendus PE as a strong alternative asset management platform in India. As some of you know, the two close ended funds of Avendus have consistently outperformed their benchmark indices and delivered superior returns to their investors,” Thakur said in an email.
An MBA from Jamnalal Bajaj Institute of Management Studies, Thakur started his career as a consultant at the Tata Strategic Management Group.
With his departure, Shrikant Bandaru, principal, Avendus PE Investment Advisors, will take care of the PE business.
Financial services firm Avendus’ PE arm manages two funds with portfolio firms such as V-Guard, Bajaj Corp, Kajaria Ceramics, Magma Fincorp, Prestige, Camlin and Zydus Wellness.
It currently invests from the Rs 500-crore Alternative Investment Fund in listed Indian small-cap and mid-cap companies.
(Edited by Joby Puthuparampil Johnson)