PAG, the Asia-Pacific-focused alternative investment firm, has elevated Nikhil Srivastava, partner and head of India private equity, as co-head of the firm’s global PE business, effective immediately.
Srivastava will also join the firm’s management committee and work alongside David Wong, partner and co-head of PAG Private Equity, to lead PAG’s private equity operations, the firm said in a release.
Srivastava will succeed Lincoln Pan, who will move on as CEO of Jardine Matheson Holdings Ltd. Pan will remain in his role at PAG until November.
Srivastava has been instrumental in scaling PAG’s India PE platform. He has led several high-profile investments such as the acquisition and public listing of Nuvama Wealth Management and the takeover of Manjushree Technopack from Advent International.
He joined the firm in 2019 after working across India, Singapore, and the US markets with KKR for nearly a decade. Prior to that, he was with Goldman Sachs and Inphi Corporation. Nikhil holds an MBA from Harvard Business School, a master’s in electrical engineering from Stanford, and a bachelor’s in electrical engineering from BITS Pilani.
PAG has been investing in India since 2009 and opened its India office in 2019. It manages more than $3 billion in assets in India. It recently onboarded a pension fund for a packaging platform that it created by acquiring and combining Manjushree Technopack and Pravesha Industries Pvt Ltd.
Globally, the firm manages capital on behalf of nearly 300 institutional fund investors. It has more than 370 investment professionals in 15 offices globally, and over $55 billion in assets under management. Its three major offices are in Tokyo, Singapore, and Hong Kong. It invests across three core strategies — credit and markets, private equity, and real assets.
