Tata Capital, the financial services arm of Indian conglomerate the Tata Group, has appointed Shailendra Bhandari to head its private equity business.
Bhandari was previously managing director and chief executive officer of Centurion Bank of Punjab, which has since been merged with HDFC Bank. He was earlier the chief executive officer of ICICI Prudential Mutual Fund also held senior positions at HDFC Bank and Citibank.
Tata Capital has been making direct private equity investments in India. Its focus is on growth capital deals and it also makes selective late-stage venture and buyout investments.
It is now looking to raise capital from external investors. The firm told PEO last month that “this will be through a composite mix of sector agnostic and sectorally aligned funds”.
The firm plans to raise between $200 million (€129 million) and $300 million for funds focussed on the mid-cap space, and on the technology and healthcare sectors, according to a report in Indian newspaper The Financial Express.
Besides private equity, Tata Capital provides a wide array of services including corporate finance, retail finance, broking services, capital markets, wealth management and rural finance.