Carlyle names Nirula as managing director in India

US private equity giant bolsters team in India as country-wide economic reforms, a burgeoning middle class and a fast-growing private sector boost growth and buyout opportunities.

The Carlyle Group said on Monday that Vikram Nirula has joined the Carlyle Asia private equity team as a managing director.

Based in Mumbai, Nirula will advise on Carlyle’s investment activities in India.

“India presents attractive investment opportunities, particularly in financial services, healthcare and consumer,” Greg Zeluck, managing director and co-head of the Carlyle Asia buyout team, said in a statement. 

Nirula joins Carlyle after 18 years with a local Indian PE firm, True North Managers, which he helped found.

Prior to that, he spent five years at Arthur Andersen in its financial consulting and corporate finance practice.

Nirula graduated with a bachelor’s degree in engineering (computer science) from Birla Institute of Technology in India and went on to earn a postgraduate diploma in management from the Indian Institute of Management in Bangalore.

Carlyle has invested approximately $1.9 billion of equity in India and is increasing its investment pace in recent years across a range of sectors, including financial services, healthcare, pharmaceuticals and consumer goods, according to the statement.

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