Global alternative investment firm KKR & co. LP has promoted 44 executives, including two from its India office, to the post of managing directors.
The private equity firm said in a statement it has promoted Rupen Jhaveri and Tashwinder Singh as managing directors, alongside Susan Hutchison from Hong Kong, Chung Ho Park from Seoul and Sydney-based Matthew Claughton of KKR Capstone.
Jhaveri, who had joined KKR’s Mumbai team in the year of its launch in 2009, has represented the firm in several transactions. These include the ones involving Alliance Tire Group, Magma Fincorp, Dalmia Cement, Max Financial Services, Emerald Media, SBI Life Insurance and Bharti Infratel, according to the company website. Earlier, he had stints in Goldman Sachs & Co. and Warburg Pincus.
Singh is part of the Mumbai capital markets team since 2012. He focussed on the Indian corporate non-bank finance company KKR India Financial Services Pvt. Ltd, the PE firm said. He had moved from Citi Private Bank, his profile on the KKR website says.
“This particular group of individuals has demonstrated strong leadership, embodies the firm’s culture and values, and plays key roles in KKR’s mission of supporting our clients and the companies in which we invest,” KKR co-founders Henry Kravis and George Roberts said in the statement.
KKR has just raised one-third of the $9.3 billion buyout fund for Asia. Till date, it has invested around $3 billion across 13 private equity transactions in India.
The firm has raised at least two India credit funds. It mobilised Rs 1,500 crore in its first India credit fund in 2013, and is targeting Rs 2,000 crore in its second outing.
KKR has also invested $200 million in its so-called special situations business that backs distressed companies.