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NSR forms advisory board to assist portfolio

New Silk Route, whose co-founder Rajat Gupta has been charged with insider trading, has formed the board to help identify exit opportunities.

Asia-focused New Silk Route has established a strategic advisory board to help identify opportunities for investment exits as it works to put behind it the insider trading scandal involving its co-founder Rajat Gupta.

NSR hired Nina Shapiro, Herbert Henzler and Supratim Bose to be responsible for “identifying global opportunities” for the firm’s portfolio companies. The opportunities, according to a statement, include potential business partnerships, strategic transactions and public offerings on exchanges in Asia, Europe and North America.

“European and US companies have a strong desire to capitalise on the economic growth potential in India and the Middle East,” Henzler said in the statement. “This has the potential to make New Silk Route’s portfolio companies extremely appealing as business partners across multiple industries.”

The statement also noted the firm expects to make more appointments to the advisory board in the coming months.

Rajat Gupta

Shapiro most recently served as the vice president for finance and as treasurer at International Finance Corporation (IFC) and has held various positions at the World Bank; Henzler is a special advisor to the chairman of Credit Suisse Group as well as a director emeritus and advisor to McKinsey & Company, where he served as chairman for Europe and head of McKinsey Germany for 14 years.

Bose was a partner at New Silk Route but will no longer be as he takes on the new role. He has recently joined Boston Scientific Corporation as executive committee member, executive vice president and president Asia Pacific after 28 years at Johnson & Johnson in Asia.

In October, the US Federal Bureau of Investigation arrested and charged Rajat Gupta with insider trading for allegedly sharing confidential information with disgraced hedge fund manager Raj Rajaratnam, founder of Galleon Group. The US Securities and Exchange Commission also filed charges against Gupta for alleged insider trading activities.

The charges stem from Gupta’s alleged insider leaks to Rajaratnam from 2008 to 2009 while Gupta was on the boards of directors of Goldman Sachs and Procter & Gamble. Gupta allegedly knew the information would be used to make trades, according to the FBI complaint.

Gupta has taken a “leave of absence” from NSR since March last year after he was initially charged by the SEC with insider trading.