Blackstone picks Dixit, Cyriac to lead India business; Akhil Gupta is non-exec chairman

Written by fe Bureau | New Delhi | Updated: Dec 17 2013, 10:48am hrs
Amit Dixit and Mathew Cyriac will jointly lead Blackstone's private equity business in India, reports fe Bureau in New Delhi. They will take over this role from Akhil Gupta, who will assume the position of non-executive chairman. Gupta will continue to help and guide Blackstones activities in India, working closely with the heads of its businesses. Tony James, Blackstones president, said: Blackstone is a force in Indian private equity thanks in large part to Akhils leadership.

"We appreciate his tremendous contribution to the firm as the head of our business in India, and we look forward to his continued involvement as chairman of Blackstone India. Akhil has built a terrific team and we are confident that Amit and Mathew will continue driving our performance in Indian private equity, said James.

Gupta said: We have built one of the strongest teams of investing and operating professionals in India, who will carry the momentum forward. I am delighted that, in my new stewardship role, I will continue to work with outstanding professionals of Blackstone, to be part of their continuing success, and also afford the time and flexibility to pursue my wider and global interests including academics and philanthropy.

In India, Blackstone has a team of 19 investment and portfolio operations professionals in private equity and 9 professionals in real estate.

It has invested $1.7 billion of equity in 20 private equity transactions over the last eight years, to become one of the most active investors in the Indian market.