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KKR picks rival TPG's Trehan to head India private equity business
[NEW YORK] KKR & Co has picked Gaurav Trehan, a partner from rival buyout firm TPG, to head its private equity business in India, according to people with knowledge of the matter.
Mr Trehan, who joined TPG in 2004, left the company this month, the people said, asking not to be identified as the information is not public. Sanjay Nayar, chief executive officer of KKR's India unit, has been overseeing the business so far.
Private equity firms are strengthening their management teams expecting the pandemic to boost buyout opportunities in Asia's third-largest economy. Carlyle Group is also looking for a new managing director to lead or co-lead its business in India, Bloomberg News reported last month.
KKR is predicting the coronavirus crisis will ultimately be another inflection point for its business even as its holdings take a hit. Scott Nuttall, co-president of KKR, said during an earnings call last week, that the possibilities for the firm to expand are even greater now than during the last financial crisis.
In India, KKR has invested in companies such as tower operator Bharti Infratel and life insurer Max Financial Services, according to its website. Last year, the private equity firm acquired a majority stake in private education services provider EuroKids International for an undisclosed amount.
A spokesperson for KKR declined to comment. Mr Trehan couldn't be reached.