Banerjee joins Lehman from ICICI Venture

The former director of investments at ICICI Venture will head Lehman's private equity and growth capital team in India.
Lehman Brothers has named Jayanta Banerjee as managing director and head of private equity (excluding real estate) and growth capital in India. Banerjee joins from ICICI Venture, where he was a director of investments.

In this newly created position, Banerjee will be in charge of the US bankÆs growth capital principal investments management and work closely with members of global private equity funds. He will be based in Mumbai and report jointly to Tarun Jotwani, the bankÆs chairman and chief executive officer in India, and Christopher Manning, head of the investment management division in Asia.

ôLehman BrothersÆ India franchise continues its robust expansion and, under JayantaÆs leadership, we expect to capitalise on the tremendous growth in mid-cap corporate India. With corporate profit growth in the mid-20% range, and private equity investments growing at a rate of more than 100% in India, we are very pleased to have someone of JayantaÆs calibre leading this effort for us,ö says Jotwani.

Manning adds: ôWe are excited to have someone of Jayanta's talents as we continue to grow our private equity business in India and we look forward to partnering with management teams to help them achieve their growth plans.ö

When Banerjee worked with ICICI Venture, he was an investment committee member of the largest private equity fund in India - the firmÆs $810 million India Advantage Fund Series 2. He was instrumental in raising funds from investors worldwide.

While the US bank has not confirmed if Banerjee is going to be involved with ôsyndicated investingö, it is undoubtedly an increasingly prevalent phenomenon for investment banks to invest in Asian companies side-by-side with private equity funds or hedge funds. Last month, Deutsche Bank poached Andrew Yeo from Temasek to be a director of its global credit trading private equity, a position which involves the execution of co-investment opportunities where the bank puts its own balance sheet to work and then syndicates out part of the deal to other investors - a practice known as syndicated investing.
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