Goldman Sachs is moving private equity partner Ankur Sahu to Mumbai from Toyko, and naming him co-head of private equity in Asia, Reuters reported. Sahu will lead the Asia private equity business with Andrew Wolff, who is based in Hong Kong. The moves are a reorganization that combines buyout operations in Japan, India and the rest of Asia into a single unit, Reuters wrote.
(Reuters) – Goldman Sachs (GS.N) will relocate Ankur Sahu, a partner in its private equity business, to Mumbai from Tokyo as part of a reorganisation under which he will co-head private equity for Asia, an internal memo showed.
Sahu and Andrew Wolff, who is based in Hong Kong, were named co-heads of Goldman’s private equity business in Asia under a new structure that combines operations in Japan, India and the rest of Asia into a single unit, the memo said.
“This is intended to increase collaboration among various offices and enhance cross-border business potential,” the memo said.
Goldman Sachs has invested about $2 billion in private equity in India since 2007, including a stake in insurer and hospital operator Max India Ltd (MAXI.BO).
Private equity investment in India nearly doubled last year to about $8 billion, according to Venture Intelligence, a research firm. (Reporting by Tony Munroe; editing by Malini Menon)