KKR Starts Searching for New Private Equity Head in India

(Bloomberg) -- KKR & Co. is looking for a new head for its private equity business in India, according to people familiar with the matter.

The buyout firm has asked a recruiting firm to provide a shortlist of candidates for the job, the people said, asking not to be named as the information is not public. Sanjay Nayar, chief executive officer of KKR’s India unit, has been overseeing the business so far.

A representative for KKR declined to comment.

The New York-based firm is set to join its peers in searching for senior managers in Asia’s third-largest economy. Carlyle Group Inc. has kicked off its hunt 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 took a hit. Scott Nuttall, co-president of KKR, said during an earnings call this 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 Ltd. and life insurer Max Financial Services Ltd., according to its website. Last year, the private equity firm acquired a majority stake in private education services provider EuroKids International Pvt. Ltd. for an undisclosed amount.

©2020 Bloomberg L.P.