Goldman Sachs’ Sanjeev Mehra to retire

The 30-year private equity veteran will be stepping down from his role as vice chairman to become an advisory director.

Sanjeev Mehra, one of the founders of Goldman Sachs Group’s private equity business will retire after almost 30 years with the US bank, according to reports.

Mehra served as vice chairman of the US bank’s private equity unit and a managing director of the Goldman Sachs Group. He was previously co-head of the Americas private equity business. In 2007, he started the firm’s buyout business in India.

He will become an advisory director after stepping down from his role as vice chairman the bank’s head of merchant banking Richard Friedman wrote in a memorandum to employees, according to Bloomberg. Goldman Sachs has not yet named who will take over Mehra’s responsibilities.

Mehra began his career at Goldman Sachs in 1986 in the corporate finance division. He was named partner in 1998. He led the $7 billion buyout of business services company Aramark and the $3.3 billion deal for Hawker Beechcraft in 2007. He was involved in the banks’ acquisition of custodial services provider GCA Services Group from Blackstone Group for about $950 million in November last year.

He serves as a director at several portfolio companies including financial services company Max India Limited, supply chain company Neovia Logistics Holding and metal parts manufacturer Sigma Electric.

Last year, Mehra turned angel investor and committed an undisclosed sum to Indian mobile food and restaurant app DishCo, according to reports.

Goldman Sachs’ global head of healthcare Thomas Carella has also left the firm to join Warburg Pincus. Carella first joined the firm in 1997 as an analyst and became managing director in 2004, according to his LinkedIn page. He has served on the boards of portfolio companies such as T2Biosystems, Drayer Physical Therapy Institute, iHealth Technologies and KAR Auction Services.

Another banker, Tim Leissner, who was chairman of Goldman Sachs' southeast Asian operations has recently resigned after being placed on leave in January over “inaccurate and unauthorised statements” in a reference letter he wrote without the firm's consent. US authorities have subpoenaed Leissner in connection with his involvement in mega-deals between the firm and Malaysia's investment fund 1MDB. The investment fund is facing allegations it had funnelled money into the personal accounts of Malaysia's prime minister Najib Razak. Leissner had been with the firm for 18 years.

Goldman Sachs’ private equity assets under management were over $56 billion as at end 2014, according to PEI Research & Analytics. The firm’s private equity group consists of over 85 professionals across New York, San Francisco, London, Tokyo and Hong Kong.

Goldman Sachs could not be reached for comment.