Rohit Sipahimalani, co-head of Temasek India, will take over from Manish Kejriwal as head of Temasek India, a Temasek spokesperson told VCCircle.
Kejriwal is quitting the firm to start a new fund platform, along with Sunish Sharma, who has left General Atlantic. Sharma was the managing director at GA.
Sipahimalani, joined Temasek India as managing director (investment) in 2008 from Morgan Stanley where he was head of South-East Asia investment banking. He was focusing on telecom and media investment at Temasek.
Sipahimalani joined Morgan Stanley in India in 1997 as an associate and moved to Hong Kong in 1999 as vice-president, focusing on mergers and acquisitions. He was promoted to co-head of M&A in 2005 and became head of South-East Asia investment banking in 2007, relocating to Singapore.
Before moving to Morgan Stanley, Sipahimalani had spent three years with McKinsey & Co, Inc., where he was an engagement manager working out of its Mumbai office. Prior to that, he was at Citibank N.A. from 1989 to 1994. Sipahimalani did his BA (Honours) in Economics from St Stephen’s College, Delhi University, and did his MBA from IIM-Ahmedabad.
His appointment comes amid some critical senior management flight from Temasek. While Kejriwal is moving out now, Padmanabh Sinha, Temasek India’s MD (investments), had left the company earlier this year to join Tata Capital’s private equity business.
Temasek is the largest sovereign wealth fund in India, given its investments in some of the biggest firms in their respective sectors and its exposure as a limited partner (LP) to PE funds. It has invested in companies like ICICI Bank, Mahindra & Mahindra, Tata Sky, Bharti Airtel and its tower arm Bharti Infratel.
Last year, Temasek invested $200 million in GMR Energy, besides striking a deal to buy 5 per cent stake held by the New York Stock Exchange in the National Stock Exchange, valued at $150-$175 million. It also invested in Max India, Sobha Developers and a project of the Lodha Group.
The sovereign fund, which last year changed its global charter (analysts viewed it as Temasek downplaying its links to government policy or strategic interests as it eyes more overseas investments), has assets under management of over $140 billion.
