Blackstone names co-heads of PE business in India

Blackstone said Monday that it has hired Amit Duxit and Mathew Cyriac to jointly lead its private equity business in India. Both are replacing Akhil Gupta, who will become non-executive chairman of Blackstone India.

PRESS RELEASE

Mumbai and New York, December 16, 2013: Blackstone (NYSE: BX) today announced that Amit Dixit and Mathew Cyriac will jointly lead Blackstone’s private equity business in India. They will take over this role from Akhil Gupta who will assume the position of non-executive Chairman of Blackstone India. In this role, Akhil will continue to help and guide Blackstone’s activities in India, working closely with the heads of its businesses.
Tony James, Blackstone’s President, said, “Blackstone is a force in Indian private equity thanks in large part to Akhil’s leadership. We appreciate his tremendous contribution to the firm as the head of our business in India, and we look forward to his continued involvement as Chairman of Blackstone India. Akhil has built a terrific team and we are confident that Amit and Mathew will continue driving our performance in Indian private equity.”
Akhil Gupta said, “We have built one of the strongest team of investing and operating professionals in India, who will carry the momentum forward. I am delighted that, in my new stewardship role, I will continue to work with outstanding professionals of Blackstone, to be part of their continuing success, and also afford the time and flexibility to pursue my wider and global interests including academics and philanthropy.”
In India, Blackstone has a team of 19 investment and portfolio operations professionals in Private Equity and 9 professionals in Real Estate. It has invested $1.7 billion of equity in 20 private equity transactions over the last eight years, to become one of the most active investors in the Indian market.
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