CVC Capital Partners is planning to open an office in India in the coming months as the firm looks to strike its first deal in the country.
The office will be based in Mumbai and headed by senior managing director Siddharth Patel, according to a person with knowledge of the firm's plans, which were first reported earlier this week by India's Economic Times. CVC declined to comment.
Patel, currently based in CVC's London office as a member of its telecommunications, media and technology team, joined the buyout house from Apax in 2010.
The firm will be joining a number of big players which have established an outpost in the country in recent years. Blackstone was one of the first global private equity names to enter the country, setting up in Mumbai in early 2005, followed later in the year by The Carlyle Group. Apax opened an office the following year, and KKR joined its rivals in Mumbai in 2009. More recently Partners Group opened an office in 2014.
According to a list on its website of current and historic portfolio companies, CVC has never backed an India-based company.
CVC is investing CVC European Equity Partners VI, a €10.9 billion 2013fund, and.in the process of raising its seventh fund, and biggest yet, which has a €15 billion hard-cap. The firm is also investing CVC Asia Pacific IV, a $3.5 billion fund raised in 2014.