After two top-level management exits recently, Milestone Religare Investment Advisors Pvt Ltd has appointed Srinivas Baratam from Lazard India and Anant Kulkarni from JM Financial Investment Managers as joint managing partners.

Baratam served Lazard India as managing director since 2008 and initially focused on setting up a growth capital fund in India. For the past one-year-and-a-half, he has been working to establish Lazard’s PE advisory and mid-market sell side business. On the other hand, Kulkarni was an executive director at JM Financial Investment Managers and was overseeing investments across various sectors. Prior to their previous engagements, both Baratam and Kulkarni have worked at IL&FS Investment Managers Ltd, an Indian PE firm.

“Having being involved in various capacities with several deals and funds, across a broad range of sectors such as financial services, telecom, healthcare, IT, media, petrochemicals, construction, manufacturing, auto components, life sciences, media and entertainment, Srinivas and Anant bring in rich experience which will surely take Milestone Religare to newer heights,” said Ved Prakash Arya, managing director and CEO of Milestone Capital Advisors Pvt Ltd.

Recently, Milestone Religare had witnessed two top-level exists with its managing partner Rajesh Singhal joining Tata Capital while another partner Amit Vikram Sharma joined Aditya Birla Private Equity. Singhal had been with Milestone Religare Investment Advisors since its inception in 2008.

Milestone Religare is a JV between billionaire brothers Malvinder and Shivinder Singh-owned Religare Enterprises and a Mumbai-based independent investment advisory firm, Milestone Capital Advisors. It seeks to invest in sectors like education and healthcare.

The fund started with an initial corpus of Rs 400 crore ($90 million). Some of its portfolio investments include Healthcare Global Enterprises (HCG), a Bangalore-based chain of oncology super-specialty hospitals, Krishna Institute of Medical Sciences (KIMS), a Hyderabad-based multispecialty hospital, and IMS Learning Resources, a test preparation company for MBA aspirants.

The firm was also planning to raise around Rs 907 crore ($200 million) under an offshore fund to invest in new areas of infra ancillary and consumption services, apart from the current investment areas of education and healthcare.

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