Leading India-focused Private Equity firm ChrysCapital - two time winners of the "Best Private Equity Firm of Year" award at the Venture Intelligence APEX Awards - has announced that its founder Ashish Dhawan, will transition out of the firm in mid 2012 to pursue work on social issues.
Also, Brahmal Vasudevan, one of the firm's managing directors who has been at the firm since 2000, will be leaving ChrysCapital later this year. Going forward, the ChrysCapital team will be led by the remaining six managing directors – Ashley Menezes, Gulpreet Kohli, Kunal Shroff, Ravi Bahl, Sanjay Kukreja and Sanjiv Kaul.
Ashish Dhawan of ChrysCapital receiving the Best Private Equity Firm-2009 Award from Ajay Piramal of the Piramal Group
Excerpts from the ChrysCapial Press Release:
ChrysCapital prepares itself for management transition to a collective leadership based on equal partnership ChrysCapital Investment Advisors, one of India’s leading investment advisors, is preparing itself for a well-planned leadership transition over the next 18 months. Ashish Dhawan, senior managing director, will continue to lead the organization till July 2012 and he will thereafter pursue his long-standing desire to work on social issues. Ashish commented, “Nothing changes until July 2012. Even thereafter, I will continue to engage with any activities that pertain to any investment recommendations made till then. I have full confidence in our ChrysCapital team and know that the firm will be in good hands after I leave. I plan to eventually focus my energy on not-for-profit K-12 education in India.”
Brahmal Vasudevan, one of the managing directors, will be leaving ChrysCapital later this year. He has been at the firm since 2000 and plans to return home to Malaysia and will focus on investments in South East Asia and India. Brahmal said, “Our senior team has enjoyed working together for a decade and I have no doubt they will continue to be successful in the years to come.”
Strong cohesive team to lead ChrysCapital in the future
The remaining six managing directors are fully committed to leading the firm going forward and have been at ChrysCapital for an average tenure of ten years. This is one of the most cohesive and experienced teams in the private equity advisory industry with a diverse mix of skills and sector expertise. The present responsibilities of Ashish and Brahmal will eventually be redistributed amongst the six continuing managing directors, whose roles will be as follows – Ashley Menezes will lead client services, due diligences, finance, legal, compliance, industry representation and human resources; Gulpreet Kohli will manage client relationships and cover the real estate and consumer services domains; Kunal Shroff will oversee the infrastructure and power sectors; Ravi Bahl will manage the financial services vertical; Sanjay Kukreja will lead the business services and manufacturing verticals and Sanjiv Kaul will oversee the telecom, pharma and healthcare sectors.
The management team said, “We take great pride in ChrysCapital and the entire organization is excited about the opportunity to take the firm forward.” The new leadership structure for the firm will be based on an equal partnership with well-defined responsibilities and empowerment, thereby driving better accountability. ChrysCapital will continue to have a sector focussed strategy for advising future funds. The firm expects the next ChrysCapital fund to be raised in mid-2012 with a smaller corpus, as there is a better risk-reward in mid-sized deals.
About ChrysCapital Investment Advisors
ChrysCapital Investment Advisors is one of India's leading private equity investment advisors. The firm has been advising five funds that manage over $2 billion. With over 60 investment recommendations since 1999, ChrysCapital has valuable experience in evaluating investment opportunities across a breadth of sectors that leverage growth in the Indian economy.